For now at least, we have found a pivot point for this SP500 ETF, at the 50% fib retrace level. Huge volume and a quick turnaround in price, we shall see how this one turns out. Compare Volume to late 2018, our targets for a bounce from this level are at 88% Fib extension level of $290, all time high of $312 (100%), and perhaps $372 at the 161.8% extension level.
This can still drop, there is a lot of news creating a small panic, and if so we may get to see the dead cat bounce. For me, volume is key.
This can still drop, there is a lot of news creating a small panic, and if so we may get to see the dead cat bounce. For me, volume is key.