how many bulls will the S&P 500 trap?

After a ~35% panic drop in the S&P and a bear rally fuelled by the fed money printing machine, will reality finally catch up with the market? Record unemployment, lackluster company earnings, a shutdown economy, a worsening health crisis, uncertainty for the future, declining volume & momentum - all ingredients that reduce investor confidence which will inevitably cause the market to drop. I suspect to at least test the recent low, if not much lower to around ~1600.

Price has hit the .5 retrace at the 1:1 extension and it's all down from here. How far down we'll have to see what the wave structure gives us.

Please comment with your thoughts.

Dagangan aktif:

Entered short at 2855

Dagangan ditutup: hentian tercapai:

SL hit. This bear got trapped.