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S&P 500: A No-Nonsense Look at the 120-Point Drop

by Editorial Staff
Updated: February 24, 2020

Do you ever stare at a chart and think, "If only I knew ahead of time, I would've pulled the trigger"?

Monday's (Feb. 24) sudden 120+ point drop in the S&P 500 left most traders with that exact reaction.

However, if you subscribe to our U.S. Intraday Stocks Pro Service, you might've had the opposite feeling.

One trading day before the sell-off -- on Friday, February 21 -- editor Robert Kelley told subscribers: Expect an "accelerating 3rd wave decline."

You may know that wave 3s are strong and fast.

Here's Friday's forecast and chart (some labels and analysis reserved for subscribers)::

S&P 500

Intraday Update: 2/21/2020 3:51:21 PM

... there is still a good chance that wave iii down is in play. If that's the case, then an accelerating third wave decline lies ahead...

intSP1

You know what happened next -- this chart captures Monday's collapse, including the dramatic gap at the open:

intSP2

When markets move this fast, you need expert guidance.

Our U.S. Intraday Stocks Pro Service editor Robert Kelley has 30 years of direct market experience.

Says a U.S. Intraday Stocks Pro Service subscriber:

"I have really appreciated your analysis over the last couple of years. Your open-minded approach and market feel and experience have helped me stay out of trouble on many occasions, and I've always looked forward to your end of day video and perspective. Please keep up the good work." - Brett L.