Less optimistic the SPX has power reserves to rise above the 200-MA, therefore I'm thinking the likelihood of a wave(c) of B) is slim. and the unfathomable likelihood of market switching to a bullish trend (before making a new yearly LOW) even less.
Having said that, indicators suggesting a 3.5-4.5% bounce may be happening or may happen (no guarantees) ... BUT to capture this would required a series of careful well executed day trades. Scalping this may be worth it for some but be aware of the real RISKs and allocate your capital amounts accordingly : The 200-MA crossing below the 500_AM rarely happens (last time was 14 years ago) and we all know what followed. The money seems to be in the SHORT and for some more risk adverse traders this potential rise could be a good opportunity to build a manageable short position which can hold though some volatility going down.
For contrarian traders this analysis could be ALL wrong and we are about to head up for new highs ( anything is possible). Given the risks, I'm at ease not going in long at the very bottom here at this particular time. LIKE water I'll catch the next wave if the market turns bullish.
Having said that, indicators suggesting a 3.5-4.5% bounce may be happening or may happen (no guarantees) ... BUT to capture this would required a series of careful well executed day trades. Scalping this may be worth it for some but be aware of the real RISKs and allocate your capital amounts accordingly : The 200-MA crossing below the 500_AM rarely happens (last time was 14 years ago) and we all know what followed. The money seems to be in the SHORT and for some more risk adverse traders this potential rise could be a good opportunity to build a manageable short position which can hold though some volatility going down.
For contrarian traders this analysis could be ALL wrong and we are about to head up for new highs ( anything is possible). Given the risks, I'm at ease not going in long at the very bottom here at this particular time. LIKE water I'll catch the next wave if the market turns bullish.