Short

SPX Short : Technical Target 4230

Updated
SUMMARY: Short, an ABC correction is in progress and has bounced off the 0.786 resistance and is forming a new C wave with volume.


The next target is the 1.618 retracement level and is a previous swing low as support, usually a very strong support level.

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*Not financial advice and is for educational purposes only. Always DYOR.
Note
If the rejection at 0.618 continues, possible 5th wave impulse:

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Note
with an rejection off the 50 MA and further bad economic news , could see the 4200 level met.

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Note
Rejection complete - downtrend continues

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