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samitrading
Jul 29, 2021 5:13 PM

SPX's Fans. This fractal is just scary to say the least !!! 

S&P 500 IndexTVC

Description

E. Diagonals are followed by fast and hard pullbacks.

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Not touching our target = we need to recount this E.diagonal again ;-)

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Magic number is 4467.

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Could it be that simple !!!

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Moments of truth, or "ALGO" playing with us.

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How nice it is when at least one of many ideas of yours
"Actually" works/play out :-)

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What's next.
Comments
BlkGold
It might be time to repost this one. We are getting mighty close to 4467 and time is just about right, too.
samitrading
@BlkGold, Hey buddy, just reposted it :-) . Glade you like it .
BlkGold
@samitrading, SPX quietly hit your magic number of 4467 at 15 minutes into today's trading session. The rest of the trading session has been a Chinese water torture!
samitrading
@BlkGold, Glade that one of my ideas actually work in this crazy market :-) . We could, if this is an actual diagonal, see a hard sell off stay nimble buddy.
BlkGold
@samitrading, Yep, I liked the analysis from the beginning and I'm still watching SPX to see if we get a pullback. Keep up the good work.
samitrading
@BlkGold, Thanks buddy.
merkd1904
@samitrading Check out the trend based fib from the lows of 03/25, the highs of 05/07, and the lows 05/12. 100% extension lands at 4461.72 (I'm using log btw).
samitrading
@merkd1904, Yep buddy , we both have almost the same #s & if this turns to be an E. Diagonal we will see hard sell off do not think 1-5 % would be enough

we will probably have more than that only time will tell. The only thing holding me from calling a top here on tradingview is that i do not see any

catalyst for good pullback everything is just ready for reasonable pullback but not a catalyst to change the direction south.
merkd1904
Wait, 4467 sticks out as a relatively important fb number for another reason as well but can’t remember which. When i get back to my laptop i’ll try and dig into it.
samitrading
@merkd1904, Hey buddy, would love to see that as we are approaching an invalidation of Elliott and we go up or we get a good pullback next couple of weeks or so.
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