JTH
TSP Legend
- Reaction score
- 789
Thanks Poolman, I'm just getting a little goofy with the charts (as usual.) I've noticed the CNBC monkeys are trained and focused on the SPX 1035 10% correction. I suppose it makes sense seeing how the Monthly 200 SMA is sitting at 1034.93
More importantly, they are going to watch how SPX reacts at 1035, it doesn't necessarily mean everyone is going to jump in at this level. I'm inclined to believe if we are going to go that low, then we may test the 1013's 38.2% retracement from Oct 07 - Mar 09.
This channel shows that if we don't get a bounce, we could slide into 1035 by Tuesday.
View attachment 8207
More importantly, they are going to watch how SPX reacts at 1035, it doesn't necessarily mean everyone is going to jump in at this level. I'm inclined to believe if we are going to go that low, then we may test the 1013's 38.2% retracement from Oct 07 - Mar 09.
This channel shows that if we don't get a bounce, we could slide into 1035 by Tuesday.
View attachment 8207
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