Jerremy! Cool pattern, I certainly see it. Just to play Devils Advocate, because that's what I do best: The pattern you copied steadied on the 100 ma for a number of weeks before putting in the wick below it. We haven't had such stabilization on the weekly 100 or 50 ma, making those supports more porous. It also came after a lower low AND a lower high (an A-B-C correction), whereas here, we had a higher high in Sep '18 before the lower low in December. I also see some differences in relative volume between the 2 patterns that may make this bounce harder to hold (more similar to 2018). If we do bounce after a quick pullback, can we both agree that would bring a wave 5 on the weekly? I'm anticipating a slightly deeper pullback that will have a close below the weekly 100, but not below 2500 on SPX. That will likely be followed by a lower high on high volume, everyone will assume the bull market is over, and we might even get 1 more test of the 200, similar to November 2015, 1 wave count before your pattern. Only then will we stabilize and go higher.
TL;DR I'd move your pattern over about 9 months to the right ;)
Reallifetrading
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@Red_Ben, "If we do bounce after a quick pullback, can we both agree that would bring a wave 5 on the weekly? " YEP! We shall see. It's always a theory at some point. Per the pattern, I TOTALLY would love a retest of the 100 SMA on a weekly. We will see if we get it. :-) Either way, looking for LONG opportunities.
UnknownUnicorn1020621
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Jeremy, we are trading the bubble. Abrupt move up to 299-300 then all the way down to 211 ... crazzyyyyyyyy
Reallifetrading
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@Avasreader, I'll be the one voting that SPY will NOT hit 211 ... ANYTIME soon.... :-) [Like the next 5 years]
TL;DR I'd move your pattern over about 9 months to the right ;)