Unclear to me at this point direction we are heading. I describe two options I'm looking at right now.
Recent move up looks corrective to me and I'm expecting more down ~315 to finish out a C wave.
Looks like SPY has some more to correct. Looking around ~315 range.Below 312 I will need to relook at my count.
SPY hit my 5th wave target. structure doesn't looks complete yet. Looking for a 4th and 5th wave to confirm its correcting more or it to move up to ~230 to finish out wave 5.
Looks like SPY is moving to a 5th wave completion in this impulse. Watching for a correction soon.
SPY looking bullish. looking around ~326 for this wave 1 if it is a correction. Still possible this is a top of B we are looking at right now, but leaning towards bottom is in.
updated count . two bullish scenarios still viable leaning towards this being a larger abc correction. watching this impulse and correction to determine
3 possibilities I see going forward. I remain bullish but the breakdown was concerning enough to check other possibilities
SPY continues move looking for completion wave 5 in this subwave soon.
Nice 5 wave move down to complete a C. looking bullish to me right now. Watching to see how it corrects. drops below the $312 turning more bearish and invalidates under the ~$311.
I lay out the 3 scenarios I see going forward. most likely it looks like we have started a wave 3.
In this video update, we discuss a potential swing trading opportunity on the SPX500. We have spoken about this on recent posts and now the price is in the zone we can actively look for positions. We will be waiting for some bullish price action to trade back into the key highs.
In this video update, we take a look at the S&P500 for potential long opportunities. The market breaking higher suggests the risk on sentiment could continue with safe haven currencies being the most affected. If price pulls back into the structure highs we could look for a lower timeframe swing opportunity back into the highs wherever they form.
In this video update, we discuss the S&P500 in more details and what will happen to market sentiment if price bounces or breaks. We believe if price bounces we could return to a risk-off the sentiment with safe haven currencies benefitting. If price breaks above we could see a significant move higher again.