The S&P500 index if showing signs of a strong drop in early 2023, possibly testing the 3000 region.
1. The top trendline is holding any attempts of a higher high. Until it is broken, we´re in bearish correction mode.
2. The Fib extensions from black and gray XYZs give us targets between 3150 and 2800 (yellow rectangle).
3. Short term, we´ll probably see a recovery to at least test the green resistance zone.
1. The top trendline is holding any attempts of a higher high. Until it is broken, we´re in bearish correction mode.
2. The Fib extensions from black and gray XYZs give us targets between 3150 and 2800 (yellow rectangle).
3. Short term, we´ll probably see a recovery to at least test the green resistance zone.
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