US equities corrected the April swing to the upside during the past few days. Some followthrough of this correction would result in a better S&P Elliott wave fit. However, this is not required.
The most important equity index worldwide may carry straight on from yesterday's low to the upside. The swing from last week's high, minute wave i(circle), into yesterday's low counts as a 3-wave pullback already.
What action makes an immediate rally likely (black count)? The S&P 500 is likely to follow the black count if 2683 is crossed to the upside. That action leaves a 3-wave pattern on the chart from last weeks high.
The trade triggers if 2683 crosses again to the upside.
S/L 2658 (yesterday's low)
Target: 2750
Good luck here as well!
PS: Don't forget to like & follow us. We are fairly new here on Tradingview but our ideas amounted to more than 250% return in just 4 Months. Check them out!
The most important equity index worldwide may carry straight on from yesterday's low to the upside. The swing from last week's high, minute wave i(circle), into yesterday's low counts as a 3-wave pullback already.
What action makes an immediate rally likely (black count)? The S&P 500 is likely to follow the black count if 2683 is crossed to the upside. That action leaves a 3-wave pattern on the chart from last weeks high.
The trade triggers if 2683 crosses again to the upside.
S/L 2658 (yesterday's low)
Target: 2750
Good luck here as well!
PS: Don't forget to like & follow us. We are fairly new here on Tradingview but our ideas amounted to more than 250% return in just 4 Months. Check them out!
Order cancelled:
Trade not triggered.
Wave structure changed.
Wave structure changed.