Now for the final part of the analysis of the market trend and the forecast that it would fall this week.
Do you believe in horoscopes? or God? Perhaps, this post could make you change your mind about one of them.
The market movement is controlled by the mystic Fibonacci sequence. Whether it is by inherent design of mass action or due to the collective following a common myth, I am not sure. Maybe I should read more about it. However, what is for sure is that whenever I use my favorite tool, the Fibonacci Spiral (aka. Golden Spiral), everything fits perfectly.
If we look at this chart, I traced almost all the market movements in the monthly chart and they all offered to perfection the historic support and resistance of other trends, as well as future ones. Now, I traced the current trend as if it would end this week with the red spiral, and as you would guess, it fits perfectly, which is a strong indication of a market correction this week, since it would get more complicated later if it doesn't happen. To know the magnitude of the hypothesized correction, I drew the trend line I believe is the most likely to offer support (check the previous parts of this analysis) and traced from the current point another spiral to the line in the current month. The intersection point is nearly 322000, the point I already forecasted from previous analysis -- and it fits also perfectly.
Here you go, a slightly irrational analysis based on symmetry, beauty, and abstraction, which, for me at least, is the most convincing of all.
P.S. If I am wrong and it doesn't happen this week, then it should happen in 2 weeks -- still within this month. P.P.S. When the correction happens, it should have a more massive effect on NASDAQ, which could trigger a bearish market. That's still to be seen. P.P.P.S. As it is usual, TradingView messes with Fibonacci when aspect ratios are changed. For the correct;y fitted one, please check the photo below (use "Open image in a new tab" or so):