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spx cash target 4931 from March '23 achieved


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#1 chem

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Posted 30 January 2024 - 04:02 PM

It was a circuitios route but the Zwieg breadth thrust from late March has reached the 20% target. This ZBT has a few oddities to distinguish it from the other thrusts since the '09 low.

 

The market advanced more than 12% from the thrust initiation followed by a complete retracement and the advance out of the retracement produced a second ZBT before the prior target was achieved. This second thrust (The 7th thrust out of the '09 low) is still active with a target of 5230 spx cash.

 

Normally, but not always, notable pullback is seen once a ZBT target is reached.



#2 q4wer

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Posted 31 January 2024 - 04:26 PM

It looks like that you called it right on the top !