The SNP 500
SPY is in a corrective pattern which in EW is called an open diagonal where each subwave of 1-5 subdivides as either 5-3-5-3-5 or 3-3-3-3-3. In this chart, I've counted the diagonal as 3-3-3-3-3. Currently, the SNP 500 is making a zig-zag in (b) before continuing in five waves down to complete ((v)) of A. Currently expecting the SNP500 to go to around 300 before turning up and beginning the B wave. I don't expect to see any corrective rally's until after mid term elections in the US.
Not
Alternative bearish count, the WXY count for the SNP500 is probably known by most to now but it's also possible that there is a symmetrical triangle in the X wave. Each leg of the triangle is a zig-zag while both C&E are lower than A and D is higher than B. There is also a fibonacci relationship of ~61.8% between each contraction. RSI also agrees on 4H, 1D and 1W. This gives a lower bound price target of $240 at the 1.382 extension.Not
SPY Completing corrective structureThe SPY appears to be completing a simple zigzag in (B). Wave B has retraced 50% of A and C is expected to extend to the 76.4% of AB. Wave C of (B) appears to be a in a wave (iii) with two extensions in the subminutte and micro and miniscule degree. Expecting price to top out around 425.
Feragatname
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Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.