Get started
Aborntrager

Possible 10% drop (5-3-5) zigzag for the S&P/DJI.

Short
SPDR S&P 500 ETF TRUST (AMEX:SPY)  
Aborntrager  
AMEX:SPY   SPDR S&P 500 ETF TRUST
Trend Analysis Wave Analysis
5
0
trendanalysis waveanalysis
One possible elliot wave senario for the S&P/DJI is a (5-3-5) zigzag. Everything is fibbing out nicely so far. The middle 3 wave zigzag looks to be completed (retraced to .618 and the extension looks good), and it appears we are starting wave 1 of 5 going down. In addition, the RSI on higher time frames are bearishly diverging. If this plays out, a 10% drop would be a 1:1!
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.