Sunday, February 18, 2018 10:16:46 PM
about SPX, a StockCharts analyst on Feb. 17, 2018 says:
" The current decline has formed the initial low and rebounded into the Fibonacci retracement zone. We have two possibilities here. One, the market continues to new highs and forms a "V" bottom. The second possibility is that we will see a 8-10 day sell-off to retest the second low. Note that the Chande Trend Meter is well above 20, which breaks the pattern, and may imply that a "V" bottom is more likely. Only time will tell. " - Tushar Chande
CTM shown on the chart = the Chande Trend Meter
" The current decline has formed the initial low and rebounded into the Fibonacci retracement zone. We have two possibilities here. One, the market continues to new highs and forms a "V" bottom. The second possibility is that we will see a 8-10 day sell-off to retest the second low. Note that the Chande Trend Meter is well above 20, which breaks the pattern, and may imply that a "V" bottom is more likely. Only time will tell. " - Tushar Chande
CTM shown on the chart = the Chande Trend Meter
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