EW-count Wave 5.... when the light go out Long

S&P 500SP

Description

⋅ Sep 2, 2014 11:58 AM

Count on the chart...speaks for it selfs.

I'm long at the moment but 2025 seems to be where wave 5 will have resistance...

If we then see a shallow retrace this wave 5 could be wave 1 of 5 ....and a parabolic move could be at our hands
Time will tell .... as all ways!

Safe trading
@BLawrenceM

Music at work:
youtube.com/watch?v=mpdcKmaHk_s
open.spotify.com/track/0LVOVRUo33lCAHNCMLY46w

S&P 500 (SPX500)SPX (S&P 500 Index)SPDR S&P 500 ETF (SPY) UPRO SPXU SP es_f

Comments

CoinedByCrypto

⋅ Sep 3, 2014 5:35 PM

Wave 4 pennant in motion ....further up this week gyazo.com/ffd4ce354e8a91c7ed5de0601adc3ea5

FractalTrader

⋅ Sep 3, 2014 1:32 PM

looks good

CoinedByCrypto

⋅ Sep 3, 2014 5:34 PM

Thx!

fxtrader66

⋅ Sep 3, 2014 9:43 AM

"If we then see a shallow retrace this wave 5 could be wave 1 of 5 ....and a parabolic move could be at our hands" the DOW seems to be making a similar fractal as the 1929 bull market.

TBD

CoinedByCrypto

⋅ Sep 3, 2014 5:33 PM

Very nice chart...thx for posting... very interesting.... looks def. like a replay of history. ... 1.618 could def. be in the carts.

fxtrader66

⋅ Sep 3, 2014 9:29 AM

If the August lows on the next pullback are violated I agree 100% with your count. If the Aug low holds here is an alternate count.

I believe primary 3 could make a full 1.618 of primary 1

CoinedByCrypto

⋅ Sep 3, 2014 5:32 PM

Yes I agree... we could see the 1.618 I fully agree

CoinedByCrypto

⋅ Sep 2, 2014 6:45 PM

Could be forming a wave 4 pennant here. Very common pattern for a 4th wave gyazo.com/764609b3c59a2c3d586bd4232efdb5d2

CoinedByCrypto

⋅ Sep 2, 2014 4:35 PM

Well.... SP have made a HH to day which could count for the 5th wave. Take nothing for granted...
On the daily chart resistance is at rising wedge resistance from the January low, now in the 2020 area, and on the weekly chart the upper Bollinger Band is now in the 2022 area.