BelaK

The Aug - Oct decline is ambiguous to me

FOREXCOM:SPX500   S&P 500 Index
The move down from Aug - Oct is iffy, it's come down in five semi-equal legs but I can't see it as a WXYXZ pattern.
I am inclined to think that (in this overheated market) this was a three waves down and now we are finishing a three wave running flat as B wave.
To finish this larger ABC off, now will come a three-ish month leg down for EOY tax loss harvesting.
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.