SP:SPX   S&P 500 Index
199 8 4
A count and a plan.
Hello. It seems plan played out very nice and good. Do you think A-B-C correction will start or there is some time yet ? Thanks
hi, isnt any chance the count is premature over? i like it btw but just found dax count with correction over and chance for very bearish c down just started...

bcs compared patterns with nya and it looks done there ...

look4edge look4edge
here dax

mikeoakster look4edge
Hello. If I understand your question correctly, you're asking if the ABC corrective wave I'm proposing for the end of the bull market on SPX could be finished already; is that it? If so, from the end of brexit until the all time high, I can't find a way to count a single motive wave, therefore, rather than calling the ABC over, I prefer to expect a fifth wave up to complete what could be a leading diagonal for wave A.

Besides that, because the ascending support trend line (green) has not been breached yet, I think it's recommendable to consider the trend to remain up.
look4edge mikeoakster
correct, however, in leading diagonal wave 5 typically doesnt reach 1-3 line its rule from neely and current price action was quite dynamic, and on friday was seen hefty distribution in frankfurt and ny as well, however, vix indicating no crash so far, bears control the descent
look4edge look4edge
have meant that 4 could be where is your W point and 5 where your upper blue line starts...
mikeoakster look4edge
Intermediate 4 to Minor W, besides not looking well proportioned to me, would demand an impulse for Intermediate 5 until the all time high or where the upper blue line starts, which I can't find a way to count, namely because both their last segments appear to me as being composed by three waves (and I see no ending diagonals there...).
look4edge mikeoakster
understand, tricky, however, my idea is derived from possible appearance of top diametric pattern (like diamond but very shallow) - expanding and then contracting with 3 at top and 5 where your blue line starts, for me would be no surprise if no new high will occur, even if i have some paralle line around 2270, so lets see, take care
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