hehe
Short

$SPX - Do you remember the summer of 2011?

INDEX:SPX   S&P 500 Index
spx
1572 14 20
spx
What can I say - wave 4 is always unpredictable. I expect further declines and a strong bounce in the next week. Good Luck!
Trance-Man
2 years ago
LOL, crazy markets! Thanks for the wishes, thanks for the chart, hope you have a very pleasant weekend. Appreciate the thoughts.
+1 Reply
ChartArt
2 years ago
Interesting perspective. Sadly I only see doom and no bottom any time soon.
Reply
ChartArt ChartArt
2 years ago
In terms of unpredictable; as least the decline this week was predicable:

Eurogroup meeting concludes with no deal for Greece
+1 Reply
hehe ChartArt
2 years ago
... well done - but what next?
+1 Reply
hehe hehe
2 years ago
....

snapshot
+2 Reply
deltafox PRO
2 years ago
Bounce, potential retest/lower high and fail...falling into October to test Oct '14 lows.
+1 Reply
hehe deltafox
2 years ago
...for me - date of death is September 24-30.
+2 Reply
mikeoakster
2 years ago
How do you count wave (1)? It would seem more accurate to me if wave 1 would be at the high of April 2010.

And instead of (1)-(2)-(3), it could be A-B-C, completing wave D of an expanding triangle that would have started in March 2000.

That would mean we are at wave E, which would take S&P 500 below 666,79 (500 would be a probable rounded number).

So:
- If we are on wave 4, probable targets could be 1820 for wave A and 1580 for wave C.
- If we are on wave E, probable targets could be 1735 for wave 1 of A, I'd say by November, touching the major support TL.
+1 Reply
hehe mikeoakster
2 years ago

This is a long-standing dispute over this wave 1., you can choose:

snapshot


or

snapshot




For me the most important is the current direction / south /.
The basis for Elliott Wave Principle is that each wave seeks to build a impulse. And this is my main rule.


+2 Reply
hehe mikeoakster
2 years ago
... and how it will be symmetrical triangle? / as wave 4./.
+1 Reply
mikeoakster hehe
2 years ago
Pointing wave A of 4 also to 1735, the zig-zag for wave 4 could be like this:
- A @ 1735.
- B @ 1980.
- C @ 1580.

This idea makes sense to me, considering the respective confluences. Of course that, at this stage, we can't have more than ideas, so let's see how fractal waves are going to end, so that then we can project targets with some level of precision.
+1 Reply
mikeoakster mikeoakster
2 years ago
An alternative could be wave 4 ending at 1735, at the base of the (1)-(3) to (2)-(4) channel. In that case:
- A @ 1820.
- B @ 2049.
- C @ 1735.
+1 Reply
hehe
2 years ago
Current situation - potential Expanding Ending Diagonal:

snapshot



.... we are waiting for the #Asian answer.

Buena suerte!
+2 Reply
piter hehe
2 years ago
It's working!
+1 Reply
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