From TradingView · · 40s
SPY CRASH WAVE 3 POSSIBLE SOON
SPY may drop 1.618x its peak as Wave 3 crash approaches.
In brief
SPY may drop 1.618x its peak as Wave 3 crash approaches. SPY could fall 1.618 times its peak price if Wave 3 of a crash pattern begins. Originally reported by TradingView.
SPY CRASH WAVE 3 POSSIBLE SOON
SPY topped in an ending diagonal earlier this month with 5 waves down followed by 3 waves up.
“SPY high-fived the .618 fibonacci retracement off Wave 1”
Wave 3 down target
Wave 3 down may target 1.618x SPY's peak price as per Wave Principle.
Rally exhaustion
Rally exhaustion could happen soon if SPY's charted pattern is correct.
What it means
SPY could fall 1.618 times its peak price if Wave 3 of a crash pattern begins.
