WallStScalper
Short

Recap after 11 month..SP Euphoria Target 2138.04 Bull EW count!

INDEX:SPX   S&P 500 Index
2887 12 25
Hit the predicted target

See link below for confirmation.

It's just to show that EW can predict the future!

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I would really appreciate it! Thanks!

TWUC
@BLawrenceM
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really nice prediction. i appericiate.
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Buuuuu
-1 Reply
Wave 4 of 3 ended at 1960 on 02-02-15. Wave 1 of 5th wave diagonal is an ABCXABC and ended at 2126 on 19-05-15. Wave 2 of 5th wave is in progress or just completed and heading to a new high (2160 area) which is the 3rd of 5th wave diagonal.
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Am not an ew person at all. However, it looks like year 1987 could have been the start of a wave 5 extension. If years 2000 - 2007 highs are defended as support and year 2009 lows are not violated, it could indicate wave 5 of 5 could be subdividing? If this is the case, wave 3 could take the spx quite higher where the spx could rally another 10-15 years with targets up at 8000 to 10000? Alt view, 2009 lows are violated. As per ew, when a wave extends, wave 4 can retrace all the way back to wave 2 of the extension. That's at year 1987 crash lows , this would put the spx in the mid 200's. I know this sounds quite extreme, but who knows what the furure holds.
snapshot
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When you say euphoria target, are you referring to a stock cycle emotional range target? Or was that a term used to describe this in another way?

Tom
+1 Reply
I remember that I at that time keeped on being amazed by the move up. My personal opinion
At 666 I never would have imagined 2,138 but at that time - I'd only done charting for 2 years.

But as a technical trader - without an opinion... - I did the EW and saw the monstrous bull run as being a euphoria top we were heading at. Especially the wave 4 bottom move have convinced me of that. One of the the longest bull runs without a 1% pullback. I see that as a technical sign of euphoria.

Hope it clarifies
+2 Reply
Agree this is a triangle. But my view it's an expanding triangle and we are finishing the D wave (maybe topped already or still can go to 2170). Wave E will be devastating, definitely below the C wave bottom.
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Well! Only the future will tell. The frustrating part of using EW :)
But it's a tool u can use to predict and confirm in hindsight. The very reason for me to post the updated chart!

The difficult part is to do what is possible and reasonable...to the best of your abilities.

Predicting is difficult especially the future ...as a saying in my country goes...
+1 Reply
IvanLabrie PRO WallStScalper
EW is great, but not the best for actual trading without some extra tools.
Nice chart.
+1 Reply
Yes I fully agree Thanks !!
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