WallStScalper
Long

IHS, EW, Ending Diagonal... Bullish count

INDEX:SPX   S&P 500 Index
352 7 5
Rather misty chart I know... Lots of notations on chart but i'll break it down into one thing...
further up......in a slow pace - fits with summer vacation coming up.

Price action has made a possible IHS             . With target around 1960. Here comes also the 4.168 fib ext. of the high of wave i in the the final 5th of 5th in major wave (3 or C).

At the same time price have mad an ending diagonal (ED) - the Green line are the longer term. There is also a narrower ED with line going through the last 3 top. (pink color) .

It's all possibilities ... where it all ends... Your guess is as good as mine.
When in doubt... stay out... that will be my advice!
Time will show.... as always
Safe trading ladies and gents!
@BLawrenceM
I'm more often on twitter with updates.... so follow me there!
Wall St Scalper
KevinT
2 years ago
Hmm....this one contradicts with your "Wave major 3 or C ending".
+1 Reply
WallStScalper PRO KevinT
2 years ago
Yes indeed it does.
Market is on the edge of breaking done . Having difficulties in making a new ATH and move on. It could be a top forming... but if not it doesn't have that more upside. That's the bullish count. It will bring us through low volume summer season with only retail dip buyers.
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At the end of a wedge. Could end in small retrace and subminuette wave 4 and still subminuette wave 5 to go for the wave minuette 3 ending at 1921 (red fib) http://gyazo.com/ac2bd307561c68a907da7beb65422c8d
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$ES Harmonic bearish http://gyazo.com/2374234a3c4e26614619b1e157358ef4
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SPXU heading for gap area 23,6 fib
snapshot
+1 Reply
WallStScalper PRO WallStScalper
2 years ago
snapshot
+1 Reply
Wave 3 topped at 1925,88 now in a wave 4 pennant preparing it self for thursdays ECB decision Here ES showing the wave 4 pennant: http://gyazo.com/4463c84998c6bd521e6bc1ceda3d022d
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