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Geofftv1
Jan 1, 2019 11:42 AM

SPX - Start of 2019? Short

SP:SPX60
S&P 500SP

Description

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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.
Trend AnalysisChart PatternsWave Analysis
Comments
mbehrens87
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I think we head up another day or two, up to the 2600-2630 level then fall off for a retest of the lows the week of January 14th.
Geofftv1
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@mbehrens87, Thanks, this is possible , lets see what happens.
Holginator
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Thank you for this preview and a Happy successful New Year!
ReallyMe
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Another way of looking at it (my recent idea):
Geofftv1
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@ReallyMe, Only problem I can see here is that your (A) to (B) leg after the (X) is a 5 wave structure.
ReallyMe
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@Geofftv1, why is that a problem? This is how a triple zigzag correction is drawn.
Geofftv1
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@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.
ReallyMe
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@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:
ReallyMe
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@ReallyMe, ...(A) to (B) leg after the (X) that is
Geofftv1
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@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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