Phillis

Phillis

I have been following the implus from the march lows and I know that i have been calling for a short since 2900ish, but this has been a pretty extreme impulse that has pushed the ABC correction to the max. As I have mentioned before the B wave can exceed up to 1.318% of the drop of wave A, which means that this will stall if it approaches roughly 3330. I think...

Phillis

This has been a long time coming and I am surprised that we got a rare B wave that exceeded the height of Wave V in our impulse up from the March lows. With that said, now is the time to be bearish as there is no more room to the upside as the C wave of B is looking to have completed. Remember that the B wave of an ABC correction can go above Wave V, up to 1.318%...

Phillis

We are currently in an ABC correction from an impulse wave from the March lows of 2200 to the high 3200s. The B wave is completing, which may go a tad bit higher, although it can retrace Wave V. Expect lots of downside with the C wave that is trad able under the Elliott Wave Principle. Since the impulse is likely Wave I and the ABC correction is Wave II, then I...

Phillis

As per my previous Elliott Wave Principal count, the impulse wave to 3200 is confirmed to be the top of wave v. We are currently in a ABC correction that has a high probability of being Wave 2, as that should follow a corrective wave pattern. Keep in mind that Wave II can retrace 100% of Wave 1, but its more likely to retrace to the .618 fib of Wave 1. If you...

Phillis

As per my previous chart, we see a clear 5 wave impulsive wave that came to an end at 3230. Because the ABC correction to the 2200 lows were clearly an ABC correction, this indicates that the impluse wave up to 3200 is most likely Wave 1 of a new cycle. With this in mind, Wave 2 can retrace all of Wave 1, so the maximum that it will fall will be 2200 for this to...

Phillis

Currently, we are at the end of the massive impulse wave (or near the end) from the March lows. This has been a spectacular move for the bulls, but its coming to an end. Wave iii has been quite tricky, as it was extremely extended and Wave iv was an extremely choppy correction and did not retrace that deep, which suggests that wave v will be relatively shallow...

Phillis

I have been following SPX since the crash and counting the waves per the Elliott Wave Principal. As it unfolded, the top of wave iii looked like a convincing v, but the way that wave iv unfolded invalidated that. Wave v will end close below the .786 fib, which is pretty surprising considering the circumstances of the economic situation (JPOW go BRRR). Wave iv...

Phillis

It looks like this massive triangle may just come to fruition. Would be insanely bullish. We still need to wait for this to play out but it looks like it may work out timing wise with the halving hype and a possible blockchain size resolution. Time will tell.