If 3780 -3800 holds
We could be in for a Nice pop back to 4100 during april.
Humor me, the left shoulder took about 1 ½ months to form; the head 3months. This right shoulder could take us into "Stay away MAY".
We would of course have to accumulate for a week or so (Yellowbox).. that accumulation could be in the ranges of 3800-3950 .
The final leg up should be the retest of that white trendline
Fib levels are from ATH and 2020 low
March, May, September are usually bearish.
March has been bearish 7yrs straight! I think the bank issue followed by the Rising wedge in XLF pretty much kicked things off Cycle wise.
We could be in for a Nice pop back to 4100 during april.
Humor me, the left shoulder took about 1 ½ months to form; the head 3months. This right shoulder could take us into "Stay away MAY".
We would of course have to accumulate for a week or so (Yellowbox).. that accumulation could be in the ranges of 3800-3950 .
The final leg up should be the retest of that white trendline
Fib levels are from ATH and 2020 low
March, May, September are usually bearish.
March has been bearish 7yrs straight! I think the bank issue followed by the Rising wedge in XLF pretty much kicked things off Cycle wise.
Nota
We got a 3815 bounce.. let's see how this plays out.. in theory we should retest this level again before any sincere rally up to 4090Nota
Make or break for this scenario this week.. 4030 should be top, or primary trendline from october low.
Should be a volatile week if we bounce between trendline resistance and trendline support from 3800 low.
Nota
To make shoulders or tops, you need chop!. This wedge forming , will provide the chop should support and resistance hold..
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