SPY update Bears dont know whats coming.
Please check my last post, we are right on track.
To keep this brief:
Elliott wave count unchanged, i believe we are in a temporary corrective phase and targets are posted. The 50% fib level and the 61% (Mentioned in my last post)
Currently we are at resistance attempting to break, spy looks very bullish at the momment, macd cross at the 0 line TSV are showing high buying power and MFI is not overbought, small time frames we are showing signs of a temporary reversal downward and i mean temporary. I believe pre market we will sell off hard then rebound even harder.
We predicted this reversal due to multiple divergence on the TSV and macd .
MFI is not overbought on the 1 hour but is showing weakness on lower time frames, the tsv is also showing bearish divergence on the 15.
I think we will drop hard in pre market and recovery quickly.
this reversal will be temporary so don't get greedy.
Now alt scenario..
This could be the alt wave 4 at the 38% fib level then a hard drop to wave 5.. i don't think it is but it's possible. So watch level breaks and volume for confirmation
Thanks
god bless
To keep this brief:
Elliott wave count unchanged, i believe we are in a temporary corrective phase and targets are posted. The 50% fib level and the 61% (Mentioned in my last post)
Currently we are at resistance attempting to break, spy looks very bullish at the momment, macd cross at the 0 line TSV are showing high buying power and MFI is not overbought, small time frames we are showing signs of a temporary reversal downward and i mean temporary. I believe pre market we will sell off hard then rebound even harder.
We predicted this reversal due to multiple divergence on the TSV and macd .
MFI is not overbought on the 1 hour but is showing weakness on lower time frames, the tsv is also showing bearish divergence on the 15.
I think we will drop hard in pre market and recovery quickly.
this reversal will be temporary so don't get greedy.
Now alt scenario..
This could be the alt wave 4 at the 38% fib level then a hard drop to wave 5.. i don't think it is but it's possible. So watch level breaks and volume for confirmation
Thanks
god bless
Comment:
perfect, i believe we make one more attempt to create a higher high but we will fail
Comment:
zigzag
Trade closed: target reached