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Financial_Freedom_Group
Nov 17, 2021 12:25 PM

S&P500 ELLIOTT WAVE ANALYSIS Short

S&P 500SP

Description

S&p 500 is showing exhaustion , following wave a that it made, we expecting wave b correction for a completion of abc correction.
Comments
Financial_Freedom_Group
Can we look at this again please
DaddySawbucks
'a' wave was just a few days, market overall is stupidly bullish, 'c' wave likely be shallow and brief, expect this pullback to finish up before Thanksgiving break and bull again the week after to 3 Dec IMO
oliverrathbun
@DaddySawbucks, I'm counting 5 waves up from the 11/10 low (a to b label). I'm wondering if wave 1 of 5 is already finished and 2 of 5 to follow Thursday. Prices are getting close to falling out of the price channel from the low of 2 on 10/2. If that happens it calls into question the supposition wave 5 takes out the high.
Financial_Freedom_Group
Anyway is a Daily chart.
samitrading
Hey buddy, how can you have 3 waves in W1 of impulsive structure.
Financial_Freedom_Group
@samitrading would you like to tell me something I don't know
DaddySawbucks
@samitrading, Counts look okay but the ABC will probably be a measured move, ending wave 4 around 4630 +/- 15 pips for a zig-zag.
Financial_Freedom_Group
@DaddySawbucks, i never stress my self about corrections because they are so many type of corrections hence i dont trade corrections, but yall should follow your own analysis.
samitrading
@DaddySawbucks, Hey buddy, October 4th - 7th is a 3 wave structure. If this is an impulsive wave then W1 must be 5 waves structure . Need your thoughts on this buddy
@DaddySawbucks
Financial_Freedom_Group
@samitrading, how many waves should i have?
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