S&P500 Daily Chart- Sell the 2170 for target 2100

SP:SPX   S&P 500 Index
293 1 5
Should we sell (c), the 2170-2200 area for targets (d) @ 2100/2080/2050?

So I was puzzling the weekly chart and suddenly it hit me that waves 5 up often show a triangle, diamond or wedge pattern…overlapping waves and anything but a nice and clean, non overlapping 5 wave up structure.

As an example, I will refer to the following time period: during OCT 15 – MAY 15, wave 5 up consisted of overlapping waves and an abcde structure.

And then I thought, what if the Price Pattern of OCT 15 – MAY 15 equals the current Price Pattern –> FEB 16 – OCT 16?

If history repeats once again, wave c up is close to finishing and wave d will take the S&P500             to 2100-2080-2050.

Last time, wave c up lasted 3 weeks and wave d in total 5 weeks (2 down, 1 up, 2 down).

Currenrly, wave c up lasts 3 weeks….Be prepared….

Yes, that's almost exactly as I see it. The three wave pattern is slightly more obvious on the Dow. For the rising triangle to be valid, the latest move needs to be a three wave affair where c=a. An alternative is that your wave 'a' is actually where you have wave 'c', in other words the rising triangle is much larger. For that to be valid, the current advance needs to develop into a five, being the third wave up from the 1810 low.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out