A couple of scenarios (most probable first):
The move down to 3150 is interpreted as a . Once we finish the upward correction at around 4600 we will drop below 2000. The character of wave C in the upward will be key in differentiating from the more scenario (pink).
The move down to 3150 is interpreted as the end of a larger wave C and marks the end of the bear market. We are currently retracing a wave 1 which terminated at around 4200. After retracing to 3300-3400 we will enter wave 3 which should break 5000. This scenario is rejected if we move below the recent low at 3150.
Any information represented here is my opinion only and not intended to be used for financial gain. None of the information posted here is to be considered financial advice. Information posted here is strictly for entertainment purposes only. Please consult your financial professional before making any kind of investment. Investments can be very risky and any investor should educate themselves before investing by enlisting the help of a licensed financial professional. Past results are not indicative of future results in any construable way.
Powered by WPeMatico