@samitrading, thanks mate! I also had a look at the sp500 because of your analysis, this is my view (i almost agree with you)
samitrading
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@cryptobullethbtcxlm, Nice piece buddy, keep them coming liked very much the detailed explanation. We have both our
W1 the same . Your second 1-2 is my W2. Your 3-4-5 is my W5. I have my count as a W1 extended & it seems yours as W3
extended. Both of these scenarios are charted in the ideas below and both are acceptable Elliott Ws. As you know it is impossible
to determine which is right/wrong as Elliott him self said " You can not know the waves till they are 100 complete" :-)
Either way from June - October is a historically a" trough's land " regardless of the grand cycle. Therefore, we should get
a reasonable correction/pullback from here till October.
@samitrading, i like the passion! nice ideas mate! I go for 4400 and we might see a more severe correction after that... which is in my opinion starts a recount of waves; looking at the volume, that would be correct. For the "grand" cycle waves, id count one bull market as one whole wave... I'll look into that...
samitrading
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@cryptobullethbtcxlm, Thanks buddy glade you liked it. 4330 is exactly a .78 Fibs of W1 extended then >20% correction . If we go beyond 4330
then probably the alternative will kick in an extended W3 1-2 i-ii set up or could be something beyond my knowledge either way a reasonable
pullback is coming they twist/bend the rules or they can kick the can for so long but eventfully someone has to pick it up.
voro.leon
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amateur here...doesn't a low put/call ratio signify a bullish sentiment?