Short

S&P500 DROP TO 3500?

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S&P W1 3-9-22 DROP TO 3500 ?:

- Continued FED-tightening is bearish equities
- Recessionary circumstances (US & World) is bearish equities
- Strong(er) Dollar is not bullish equities

- Analysis based on Fib-Confluences:
- 3500 = 50% retrace of Covid-uptrend
- 3500 seems likely as downside target
- 3250 is 62% retrace of Covid-uptrend = 162% extension of recent upswing
- 3250 remains to be seen, but certainly doable this year

- Wave analysis perspective:
- AB = CD = 3500
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ESsp500indexsp500usdS&P 500 (SPX500)Supply and DemandSupport and Resistance

Sultan of Swing

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