SPX 2271.58 on NY, if wave 1=5 for this wave (c) of (a) of (4)

garyfung Updated   
SP:SPX   S&P 500 Index
(4) started since Sept ATH at 2930
Trade active:
(3) was the 10 years bull since 2008.

Today, SPX failed to break out of 2520. 2516 marks the 0.5 retrace of (3) which would invalidate the whole 5 waves setup. I consider it's still holding, and went short on market close with SQQQ @ 17.11. Limit sell at 27.97, will watch and move that goal post.

May the Fib be with us.
Quadruple top on 2508 and failing to break, that is interesting and looks dangerous to my short. But this lack of conviction should have the new year open with a new downward trend, with my targets remaining for SPX towards 2252.18-2303.32 for a final bottom for months/year to come, in finishing this wave (a) of 4 and the next (b) rally to begin.

Happy 2019!
$ES1 futures and Trump tried so, so hard and so many times. Up to 2520 it went and got rejected so, so many times. Tweeting about trade deal with China and budget deal with Democrats seem to be for naught.

Up the 2400 cliff it climbed and off it's sliding back down. *Almost* feel bad for Trump... I mean the SPX.

Trade closed: stop reached:
Well that got complicated. (45) not happening, counting new (abc) waves. Targeting SPX to go up to 2551.3-2556 for .618 retrace of former (3), then back down to 2426.58 for another smaller .618 retrace.


The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.