cfetrader

SPX prediction based on RSI-waves

FX:SPX500   S&P 500 index of US listed shares
49 1 0
For rising cycles the number of RSI-waves is 5, 9, 13, 17, 21 etc. or (5+4xN), where N=1,2,3,etc. According to the current SPX             daily chart evolution, I expect number 12 to form via two options (a or b), with a mandatory condition of the zero RSI level to be reached again. This will next be followed by the 13th and final RSI-wave leading towards the level of unity and the subsequent formation of the present cycle peak. (the development of additionally 4 RSI-waves, for a total of 17 seems unlikely (but in markets anything is possible)).
cfetrader
2 years ago
Revision of the chart presented above.

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