Will the Bear Market Continue?
As you know, there are five types of corrective patterns: Zigzag-Flat-Triangle-Double three-Triple three,
As you can see, "Double three" can be counted as complete, The only choice left is Triple three, Like it or not, that's it!
Triple three:
If the initial leg down (Zigzag No.1) was ($) -35600 and second leg down (Zigzag No.2) was - 30000 (85.4 % of Zigzag No.1) then the next leg down (Zigzag No.3) should be 85.4 % of Zigzag No.2,
Your attempt is likely to yield Zigzag No.3 = -25600
as a result: Your target =- $ 800 impossible!
Prices cannot fall below zero!
You counted one (Zigzag no.3) too many
As you know, there are five types of corrective patterns: Zigzag-Flat-Triangle-Double three-Triple three,
As you can see, "Double three" can be counted as complete, The only choice left is Triple three, Like it or not, that's it!
Triple three:
If the initial leg down (Zigzag No.1) was ($) -35600 and second leg down (Zigzag No.2) was - 30000 (85.4 % of Zigzag No.1) then the next leg down (Zigzag No.3) should be 85.4 % of Zigzag No.2,
Your attempt is likely to yield Zigzag No.3 = -25600
as a result: Your target =- $ 800 impossible!
Prices cannot fall below zero!
You counted one (Zigzag no.3) too many
Personally: Bearish S&P 500= Democrats Will Lose Elections in 2022