S&P 500 Wave 5

INDEX:SPX   S&P 500 Index
90 3 1
SPX             looks to be in wave 4 with a potential wave 5 ending at 1866 which is the 1.618 Fib extension of the wave 4 retracement.
I agree! But difficult to determine the end of wave 5 which doesn't have the limitation of having wave 3 (48,09 point) being shorter than wave 1 (42,72), so several options are open. Wave 5 could truncate and make a double top or move further on than your 1866. Another possibility is a wave 4 into wave one violation (we don't know yet weather wave 4 is over and making a flat correction). Then we could have a ending diagonal and your 1866 seems more likely BUT!!!!! Time will always. Safe trading BM
WallStScalper PRO WallStScalper
A fully abc (zig zag wave) correction for wave 4 is around 1817 top of wave 1 is in 1811,08
olijoel WallStScalper
Me too agree. I also see wave b of 4 formed a triangle if you look at it in a 30 min chart. Lets see how c turn out to be today. Yesterday after market finished the triangle, went down to start c; looks like wave 1 and 2 of c is finished. My target is 1819.
Ideas Scripts Chart
United States
United Kingdom
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out