SPX Angst? God Mode Time: IDDQD

Disclaimer: This is not financial advice, and I do not have training sufficient to give financial advice. This is a hobby, but if you enjoy the chart then leave a like and follow.

Chart says it all.

Comment:

Updated targets.
WB TP1: $2,732 (38% WA)
WB TP2: $2,772 (50% WA)
WB TP3: $2,812 (61.8% WA)
WC/WIV TP1: $2,266 - $2,475 (100% - 162% WA)
WC/WIV TP2: $2,226 - $2,435
WC/WIV TP3: $2,186 - $2,394
WC/WIV Potentially to $2,072 (38.2% WIII) but no less than $1,803.85 (50% WIII)
WV: $3,759 - $4,048 (100% WI)

Comment:

Basically all WB targets have been reached. WB retraced 60.6% of WA by reaching 2807.85. If SPX is actually in an ABC corrective W4 then it is unlikely for WB to retrace much, if any, higher.

Comment:

All WB targets were hit. Since I assess SPX is in WIV (W4 correction), its price will likely continually dip/rise while slowly approaching the WC targets instead of sharply dropping as typical with W2 corrections. If price instead rises much further (> 71% WA) then we should consider whether SPX already began WV.

Comment:

If you get anything from this idea, good or bad, press like and consider following.

Comment:

Will post an accompanying chart later, but I suspect this morning’s (EST) SPX price drop to $2803.63 was a wave 1 or (i) of Wave C with the rise to 2813.86 being a 2 or (ii) retracement. The persistent lingering at $2813 is nerve racking, though remember a rise above 71% of WA (~$2843) is when we should consider being in WV.

Comment:

Here's the accompanying chart. Click for further context.

Comment:

Below is the useful info from above chart for those too lazy to click it.

Receive different low/high prices in 4H than in D/W/M TF for some reason (e.g., $2,604.04 low for W(A) in 4H instead of $2,603.54 low in M). Difference is mainly negligible but accounts for some oddities. Wave B of corrective W(IV) peaked around $2,815.15 and SPX -0.25% is now in w(i) of Wave C down. The reason for today's price lingering around $2,813 for so long is likely because w(i) will unfold as 3-3-5 wave. I've place w(i) - w(v) at roughly-plausible prices for how W(C) could unfold but did not use any precise calculations. With how much W(B) retraced, the most-likely W(C) TP range is currently $2,475 - $2,266.

Comment:

Possible Wave C (i) 3-3-5 count and (ii) TP. Two possible (i) 5 waves (ABCDE) depicted ending at $2722 and 2706. $2722 if completed yesterday and potential $2706 if (i) continues today. Potential (ii) TP $2765-$2805, based on approximately 50% to 90% of (i).

Comment:

Please like or comment if you enjoy this chart or would like to see it further updated.

Comment:

Click for full chart.