meszaros
Long

The SPX500 correction ends...

OANDA:SPX500USD   S&P 500 Index
My assumption is that the exchange rate will turn north again from 3062 usd. It can be seen that the amplitude (red square) of the wave sequences generated by the ATR lower endpoints indicated by the PSAR indicator and its associated valleys decreases in half. The rule states that this observation is relevant if the magnitude of the upper ATR endpoints and its corresponding vertices (green square) doubles at the same time. Now this is visible. So the amplitude of the wave sequence is amplified upwards. It follows that the exchange rate may now turn to a "quarter wave amplitude". The target price is around the 3352 usd level. The current level is suitable for taking a long position.

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Afternoon , in terms of time line , when is your target should hit . Thanks
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meszaros fatboy007
@fatboy007,
There are two things to note about this drawing. One is the blue lines and the other is the purple line. I'll start with the purple line. This line is a so-called predicted ATR axis. The point of this is that I assume that the ascending valleys will be on its auxiliary axis parallel to the ATR axis. The other is the blue lines. The amplitude of the associated wave sequence is shown. I deduce from this that the beginning of next year may be the date when the target price is available. Or that there will be a "Santa Claus Rally" this year. :)
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