SPX, What is going on the market ??
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Which Bull Cycle is market correcting?
Answer to this question shows us where MAY be a good point to buy the dip with open eyes and how to be prepared for alternative scenarios.
As shown and explained on the charts, there are three alternative scenarios for now and all of them are valid although they have different probabilities. :
1. Best case scenario :
In this very bullish scenario , market is just correcting the bull run started after pandemic low. In this case, we are not to much far from the SPX bottom. 3195 to 3505 corresponding to 0.618 and 0.5 Retracement levels is the zone in which SPX will bottom. I give least possibility to this scenario but surely keep it in mind since it is still a valid one.
2. Moderate case scenario :
In this scenario, SPX is correcting the bull cycle started at 60.96 on 1974 and ended at ATH. In this case, SPX will reach to very unpleasant and painful target zone which is 1878-2439 corresponding to 0.618 and 0.5 retracement levels respectively. I give most possibility to this scenario. Proofs and evidences for this scenario( and two others of course ) are provided on my published video idea about DJIA (See related idea for more details).
3. Worst case scenario :
In this scenario, market has completed 90 years impulsive section and mother of all crashes is on the way. I prefer to pray for the market in this case instead of any explanations. May GOD Bless The Market.
Maybe it is time to leave the habit of (( Buy the Dip )) with closed eyes.
Good luck every body.
Answer to this question shows us where MAY be a good point to buy the dip with open eyes and how to be prepared for alternative scenarios.
As shown and explained on the charts, there are three alternative scenarios for now and all of them are valid although they have different probabilities. :
1. Best case scenario :
In this very bullish scenario , market is just correcting the bull run started after pandemic low. In this case, we are not to much far from the SPX bottom. 3195 to 3505 corresponding to 0.618 and 0.5 Retracement levels is the zone in which SPX will bottom. I give least possibility to this scenario but surely keep it in mind since it is still a valid one.
2. Moderate case scenario :
In this scenario, SPX is correcting the bull cycle started at 60.96 on 1974 and ended at ATH. In this case, SPX will reach to very unpleasant and painful target zone which is 1878-2439 corresponding to 0.618 and 0.5 retracement levels respectively. I give most possibility to this scenario. Proofs and evidences for this scenario( and two others of course ) are provided on my published video idea about DJIA (See related idea for more details).
3. Worst case scenario :
In this scenario, market has completed 90 years impulsive section and mother of all crashes is on the way. I prefer to pray for the market in this case instead of any explanations. May GOD Bless The Market.
Maybe it is time to leave the habit of (( Buy the Dip )) with closed eyes.
Good luck every body.
Nota
SPX reacted strongly to 0.5 retracement level proposed for BEST case scenario. It must sustain this low for validation of this scenario.
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