elp

SPX EW Count

INDEX:SPX   S&P 500 Index
167 14 8
Here is an EW count that indicates there is not much room to the upside. If there is one more rally to new highs it could be W5 of an ending diagonal of a 5th wave extension, or W5 truncated at March highs. If this count is correct, W4 could be rather quick. Having alternation with W2, where W2 was a sideways, time consuming running flat correction . W4 could be a sharp correction making a simple ABC down to the 1750/30 level. I could be 100% wrong with this count and price keeps ripping to new highs.
Link to Bulkowski on running flats, 5th wave extensions and ending diagonals.
http://thepatternsite.com/EWRunning.html
http://thepatternsite.com/EWExtension5.html
http://www.thepatternsite.com/EWDiagTriangle.html
looks like linear scale?
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elp jangseohee
Yes. it is.
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the irony is this,
perhaps you can have two screen side by side comparison the diff scenarios painted out by linear vs log scale :-)
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i can't see a pink 1-2
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elp GoldMember
Ending diagonals are overlapping. I don not know how this will play out if it is an ending diagonal. EW is backwards looking.
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elp GoldMember
or the ending diagonal could be making this count? W3 is not finished and more chop at highs with a W4 & W5
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elp elp
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Thanks!
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spx, cboe chart
like parallel channel very much, according to this, support at 2030 is waiting

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detail, 1980.9 could be start of w3, it shold hold to retain this count
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elp look4edge
Since 2009 lows, the ES & SPX have had 7 weekly squeeze setups. Each one resulted in a selloff where price traded into support. Currently they are on their 8th squeeze setup. I don´t know how much price will pullback, but lookingl left it could be a bigger pullback than many are expecting.
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elp look4edge
Momentum is slowing down with divergence
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elp elp
ES
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sp500 continual contract. look familiar?
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elp elp
Look familiar?
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