1888,6 Slowly drifting away... wave after wave.. slowly drifting

FX:SPX500   S&P 500 Index
657 8 1
If 1888.6 was the top... which it seems to be from my viewpoint - then this EW-count shows the approx targets for the bearish wave-count wave 1 down

With EW - hindsight gives the clearest insight - cos a bull sees a building bull flag here having SPX             in a wave 4 pennant working on the c-leg. ;)
The correction could also come as a double zigzag if we are to see new highs after this correction. BUT if you believe that the bull market is over and 1888.6 was the top - these 5 waves down is plausible.
The many up and down days in the last week of trading gives reason to assume that a 3rd wave down is on its way. First sign of a conformation of this EW-count will come when 1830,4 (last low) is taken out.The second comes with the break of orange trend line . I see 1740 area as the target for this bearish count.
******This count has to be revised if what is shown as wave 2 up - instead is a truncated 5th wave.****
First sign of this is if last high at 1875,4 is taken out.

But as always time will show
Safe trading ladies and gents!
Music at work:
Finishing a bigger ABCD with a butterfly
Looks more and more like a harmonic pattern playing out
Hard to disagree with this. Ill revisit this chart several times then. Thanx !
In short ...as long as red line isn't taken out - the count as shown is valid
This upper trend line should hold for a continued bearish move:
looks good..
WallStScalper QuantitativeExhaustion
Thanks! Now we only need it to play out :)
Finishing a ABCD harmonic pattern in the ES - hitting upper resistance channel trend line on daily chart: http://gyazo.com/107d462abdf9b141deaaa323f127b42b
For the count to stay valid the upper trend line hold or further up move could be expect.
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