trip.trading
Short

S&P500 - 5 wave up, abc down?

FX:SPX500   S&P 500 index of US listed shares
156 0 3
I try to be as neutral as I can, but this seems a lot like a short term High in progress, and close to finishing wave 5 up or B up.

The corrective wave APR 20-MAY 19 has to be either wave 4, wave II or wave II-a. In every scenario, the count should lead to an abc pattern down next, wave II, targets @ 2010 (purple and blue) or 2080 (orange). Is it this easy? Hmmm...If I see this, then more people see the same as me and a short squeeze is inevitable.

Based on these scenarios, you should place a stop loss on the longs of 2080 or higher. And wait for price to set a High, take some money off the table by closing the longs and/or overweight short positions for a 2% or 5% corrective wave. After wave II, Wave III             should set new Highs > 2135 and has a target of 2300+.

This is the 2nd week in an uptrend, 14, 28 and 42 calendar day cycle JUN 2/3, and a Bradley Model Date JUN 1 and 4, could indicate a change in trend is coming.
Ideas Scripts Chart
United States
United Kingdom
India
España
France
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out