Geofftv1
Short

SPX - Start of 2019?

SP:SPX   S&P 500 Index
Firstly Happy New Year to all my followers!

SPX finished 2018 with a bounce as is usual given that most fund managers
will want to maximise their annual performance.

My bearish stance on stocks has not changed and I believe 2019 will continue
with this theme.

From an EW perspective I have the current bounce as minor wave 4 Blue which may be
complete or may finish at the 50%fib 2527?

Minor wave 3 blue =200% minor wave 1 blue & minute wave iii Circle = 200% minute
wave I circle. Also in wave 4 blue W=Y as shown.

If correct I expect to see wave 5 start soon.

Good Luck.
Another way of looking at it (my recent idea):
Reply
Geofftv1 ReallyMe
@ReallyMe, Only problem I can see here is that your (A) to (B) leg after the (X) is a 5 wave structure.
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ReallyMe Geofftv1
@Geofftv1, why is that a problem? This is how a triple zigzag correction is drawn.
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Geofftv1 ReallyMe
@ReallyMe, Because in any 3 wave structure A,B,C the B wave is always 3 waves, this rule applies to A,B,C 's which are part of a more complex structure.
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ReallyMe Geofftv1
@Geofftv1, I see no problem here. As so often, it's just a matter of perspective.
Because if you zoom in on the first (A) to (B) leg, you can see that it consists of 3 ascending waves:
Reply
ReallyMe ReallyMe
@ReallyMe, ...(A) to (B) leg after the (X) that is
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Geofftv1 ReallyMe
@ReallyMe, Looks like we agree to disagree here! that is often the case with EW wave counting and why this site is often useful in comparing varying ideas, Good Luck with your idea.
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ReallyMe Geofftv1
@Geofftv1, Thanks, same to you, and and Happy New Year ;-)
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The Plunge Protection Team will no doubt heavily intervene and distort money supply today, given opening indicators... they may again succeed in manufacturing an artificial bump for a bit longer.

Unfortunately, the more and longer this intervention occurs, the greater the eventual plunge will be and the longer stabilization will take...
Reply
Geofftv1 mstable
@mstable, Just woke up , Futures falling and the cash index here in UK has fallen sharply on the open. I think the protection team may step in once again though!
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