SalN

SP 500 April 12th

SP:SPX   S&P 500 Index
This is my idea of how I believe the SP500 may behave. The larger drop should complete the inverse head and shoulders . And TVIX may have very big gains. GL

Comment:

Just one idea. The next couple trading days needs to show me if I am correct. I still think a small wave c needs to be completed and then one last push up to the 3,000 area before we get a much deeper wave 2 correction.
Comment: SP500 update for May 21 2019

My preferred count. I am guessing that this rolls over on Thursday night with the UK elections.
Comment: SP 500 Correction finished?? I am not so sure.

As you can see...the price has reached halfway between the .236 and .382% Fib. This is not right in my opinion. So I provided an idea to keep an eye on. I will first be watching for price to break above the upper little wedge line that I placed on this chart. Then I will be looking for a zig zag pattern to resemble a B wave. Then I would feel comfortable to expect a waterfall event for price movement down to the typical .618% Fib. That's my thoughts at this point.
@SalN Could you help me with my little issue: I don't see volume on my SPX chart, I am using the same ticker, one day (tried different lenses too) and still, nothing. Is there something I am missing? Other charts have volume...
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SalN betgain
@betgain, you have to pay extra. It’s a cheap trick. I would not worry too much about Volume. You can always check it on other places like stockcharts.com
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ATH is real coming, I will see the coming next two weeks... it could start big sell position around 2970 or 3000.... looking forward to your new post
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SalN JackyQZ
@JackyQZ, yes. I am waiting for 3010-3020 before I get into tvix
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@SalN, Nice call !
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Nice call!! The small wave c is completed this morning ... ATH is coming soon
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Nice post, it's been a while since last post!
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SalN JackyQZ
@JackyQZ, it’s been a slow grinding market. No point posting unless I see something. I am also trying not to over trade. I take more losses by overtrading. I found it much better to have patience and wait for the set up I’m looking for to form instead of forcing it
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@SalN, Fully agree with your less overtrading and more patience... sometimes I need to close my laptop for two or three days within a week. But it's still happy to have your post around... it really helps a lot... thanks for your great work
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