NYSE composite index chart for those trading in NYSE.
Hello everyone
This chart can be so helpful for who are trading NYSE instruments and it is very close to Dow chart.
According to this chat we have had a rally in Oct 2022 and I marked it as wave 1/A Primary and then a textbook correction that ended with 14638.3728 in Oct 2023 (Exactly one yea later) and then another rally started as a clear 5 wave impulse and it is been a while that we are in a channel that might probably wave 5 minor.
There are 2 scenarios :
1- this bullish minor impulse was wave C of ABC primary that is making an expanded flat for wave 4 in higher degree or
2- it was just wave (1) intermediate of wave 3 primary and then we will see a HUGE bullish market for NYSE members.
Note: If you consider Kennedy Channeling (I love it) this channel is a terminated channel (wave 5 Minor) and it decline break out will be the end of wave 5 Minor.
This chart can be so helpful for who are trading NYSE instruments and it is very close to Dow chart.
According to this chat we have had a rally in Oct 2022 and I marked it as wave 1/A Primary and then a textbook correction that ended with 14638.3728 in Oct 2023 (Exactly one yea later) and then another rally started as a clear 5 wave impulse and it is been a while that we are in a channel that might probably wave 5 minor.
There are 2 scenarios :
1- this bullish minor impulse was wave C of ABC primary that is making an expanded flat for wave 4 in higher degree or
2- it was just wave (1) intermediate of wave 3 primary and then we will see a HUGE bullish market for NYSE members.
Note: If you consider Kennedy Channeling (I love it) this channel is a terminated channel (wave 5 Minor) and it decline break out will be the end of wave 5 Minor.
Comment:
Purple channel is broken down and wave 5 Minor probably ended.
AMA