mikeoakster

Structure is everything, right?

SP:SPX   S&P 500 Index
Hello, traders.

Current rally since Feb 11 seems to me like this:
- Micro wave W: triple zig-zag .
- Micro wave X: zig-zag .
- Micro wave Y: zig-zag .

The internal structure of Micro wave Y appears to me as being finished, having:
- Submicro wave C (not visible on the chart) reached almost the size of Submicro wave A.
- Micro wave Y reached almost 61,8% of Micro wave W.

Those two "almost" make me wonder if perhaps I'm missing some previous 1-2 sequence that could lead to one more push to the upside to reach those targets, which doesn't have to happen.

So let's see if Subminuette wave x is actually underway, who knows retracing around 61,8% of Subminuette wave w and closing the gap.

Of course I can be making several mistakes, and if that's the case, sorry for the noise...
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