This is an Observation i am making of regardless of if i am right or wrong about it.
SPX printed a Beautiful Hammer candle :
As Very bullish Hammer Candle was printed by SPX so that means Should we really expect a huge pullback or drop/crash in near term future ? I think not. Highly unlikely.
One factor why This Supercycle Wave 5 of SPX is not finished or...
Here's my modest attempt to identify S&P 500 Supercycles.
The chart shows the S&P 500 (monthly bars) since 1872 on a log scale.
Maybe it is not as bad as they say, and we are currently "just" in the Supercycle Wave 2.
Before us would be the longest Wave 3. Hopefully that's true. I can dream, can't I? ;-)
Merry Christmas Traders!
We find SPY near the termination of a minor fifth subwave v of Intermediate wave (3), which in turn is part of a larger primary wave One. Primary Wave One should terminate near SPY ETF price 219 on/about 31 Dec 18, after a 28-day decline from 3 Dec wave origin.
Chart describes constituent components of Primary Wave One, including a...
We have identified the Macro waves and pointed out the most recent minor waves. I believe we just completed Wave 3 of a Cycle Wave, as well as Wave 5 of a Primary Wave.
ConocoPhillips should rise at least 45% by the end of 2019 from Friday's close. Can you beat 45% gain in 20 months? In the short-term the stock should zig-zag to this point. Stock will most likely:
drop toward 55.93
rise toward 70.07
drop toward 59.75
rise toward 87.00 to close out its Elliott Wave Grand Supercycle and achieve at least a double top.
I will...
