Hi,
as to everyone this structure is giving me some problems so i have few counts of what this could be...but, i found some similarities with spx bottoming in 2009. RSI helps a lot with that.
Ok, in 2009 it took longer to make this two waves and it retraced 38% and this time only 23% (which is also legitimate) but then it was correction of larger degree so one would expect it to be so. That it why i use weekly chart for 2009 bottom and daily chart for 2020 bottom.
This is not advice but i hope that will help. If spx fells below 3200 i would expect drop to 3000-38 fibo but taht is not my primary count
as to everyone this structure is giving me some problems so i have few counts of what this could be...but, i found some similarities with spx bottoming in 2009. RSI helps a lot with that.
Ok, in 2009 it took longer to make this two waves and it retraced 38% and this time only 23% (which is also legitimate) but then it was correction of larger degree so one would expect it to be so. That it why i use weekly chart for 2009 bottom and daily chart for 2020 bottom.
This is not advice but i hope that will help. If spx fells below 3200 i would expect drop to 3000-38 fibo but taht is not my primary count
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