The left part of Elloiott wave looks complete. And a double top is forming.
Comments
CoinedByCrypto
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Was we are witnessing is more what within harmonic patterns is called a tree drive topping pattern. See here: youtube.com/watch?v=QpdMz2P-evA
QuantitativeExhaustion
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That's a new one
CoinedByCrypto
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Have used Upro instead so it's easier to see(follows the SPX +3 times:
QuantitativeExhaustion
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I have.. options a bit expensive
CoinedByCrypto
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I'm not sure that we are done being over 1700. It does look like and ending diagonal forming right now.
blacktulip
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You are right. My mistake... sorry
CoinedByCrypto
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No worries mate! ;)
CoinedByCrypto
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No! A strict EW-rule is that the 3rd wave can never be the shortest, therefor this count is not correct...sorry!
imdp
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Not only that, but eWaves cannot overlap. Therefore, it's very possible we're only in the ending throws of eW3 currently. Here's a monthly view (less noise).
CoinedByCrypto
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Yeah! I fully agree! We might have seen the end of way 3 but .... look like we need to see one more small wave lower to the 1687 pivot to complete a bullish falling wedge pattern before a bounce to 1709 for minor 2 of major EW4 down.
SPX could also move higher to 1737 in wave (5) of minor 5 of major EW3. Time will show! Safe trading! BM