Engrbytrade™ primary Daily Trade Pattern Structure calculations indicate the S&P500 is in a position similar to where it was on February 4, 2020. Based on key structural data points, the Fibonacci retracement sequence reveals a high correlation to the 2019 trade pattern. Secondary calculations indicate the S&P500 is in a position similar to where it was on November 16, 2021. A decline is still expected.
Stock charts courtesy of StockCharts.com.
