Get started
PHICAPITALINVESTMENTS

S&P500 3-3-3-3-3 CONTRACTING TRIANGLE CORRECTION (1HR)

Long
S&P 500 Index (OANDA:SPX500USD)  
PHICAPITALINVESTMENTS Updated   
OANDA:SPX500USD   S&P 500 Index
Trend Analysis Chart Patterns Wave Analysis SPDR S&P 500 ETF (SPY) SPX (S&P 500 Index) S&P 500 (SPX500) correction Bullish Flag Bullish Patterns FLAG contractingtriangle
3
2
trendanalysis chartpattern waveanalysis spy spx spx500 correction bullishflag bullish flag contractingtriangle
Looks like the flag on the 30min-1hr timeframe is developing as a 3-3-3-3-3 Contracting Triangle for upside. I believe we are starting the 3rd leg of Wave 4, which should take us up to around $4180 hopefully by tomorrow, followed by Wave 5 to around $4100 thereafter. We should see the larger time frame upside move towards ATH to resume after completion of this correction, perhaps starting next week.
Comment:
Idea Invalidated.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.