Put/call ratio shows support for SP500 can be near [Video]

Gregor Horvat Wavetraders

Risk-off is still here and we can see stocks coming lower, but Put/Call ratio shows SP500 support can be near due to extreme fear and huge pessimism. Volatility may stay here, so carefully at the end of the week as we have more important events such as ECB and NFP. Trump is also always here.

PC vs. SP500 Daily Chart

Looking at the SP500 wave count, we see potential flat in wave four now trading close to a support, and if we really see a bounce here, I think dollar can fall much further, while US treausires are on the rise.

SP500 Daily Chart

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Author

Gregor Horvat

Wavetraders

Experience Grega is based in Slovenia and has been in the Forex market since 2003.

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