meszaros
Long

SPX500USD can continue to rise.

OANDA:SPX500USD   S&P 500 Index
SPX500USD can continue to rise. The purpose of my current analysis is to point out a common rule. My previous analysis ( DVN chart) showed how fractals develop between two extremes (MA). Now I want to show how ATR develops around closing values. Let's see the SPX500USD chart. Visible 8.78% wave sequence. Can be seen in white rectangles with response correction. The size of the response corrections shows that they are constantly halved. So we have a 3x 8.78% uptrend and so far we are expecting a 3x half correction. We already have 2 adjustments. Now the third one has come. The assumption is that if we have 3x equal rising wave sequences, the answers given are half correction waves, then we are still expecting a half correction. I hope this was understandable. If my assumption is correct, then the downward movement is (for the time being) over. The exchange rate is turning northwards from 3235usd.

Comments

Totally agree, looks like price has come down as a compulsive reaction to news, long term trend is in tact for now
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meszaros OliverR.Evans
@OliverR.Evans, Thanks for the comment. I agree with you. The SPX500USD is still looking to rise.
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@meszaros, which platfrm are you accessing the market for your pairs?
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meszaros robertmackenzie
@robertmackenzie, Thanks for the comment.
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@meszaros, oh sorry nevermind
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