mikeoakster

Keep looming

SP:SPX   S&P 500 Index
The remaining roadmap for my proposed leading diagonal could be like this:

1. One more day to finish Minuette wave w, with Subminuette wave y being equal to Subminuette wave w in price and time, in confluence with a descending resistance trend line .

2. A retrace of 50% in price and time to complete Minuette wave x, in confluence with a descending resistance trend line .

3. A final zig-zag Minuette wave y to complete Minute wave iv, having the following confluences at its ending:
3.1. 61,8% of Minuette wave w in price and time.
3.2. 78,6% of Minute wave ii in price and time.
3.3. Top of the leading diagonal channel.

4. Completion of the leading diagonal Minor wave 1, with Minute wave v being 100% of Minute wave i in price and time, ending just above the base of the leading diagonal channel, in confluence with a descending resistance trend line .

A 61,8% retrace would then take place for Minor wave 2, stopping at the top of the channel.

And then... well, then, Minor wave 3 would be massive, reaching something like 261,8% of the entire leading diagonal Minor wave 1, so ending around 1000... and that would only be the third wave of Intermediate wave A of Primary wave E of an expanding triangle that would complete Cycle wave IV below 666,79 (the end of Primary wave C).
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