FullTimeTrader
Short

SPX500-The stock market is crushing as expected. What's next?

FX:SPX500   S&P 500 index of US listed shares
2489 9 12
Hello, i don't trade stocks but five months ago i published a chart talking about the inminent crush of SPX500:
SPX 500 - Long term short bias - critical level 2100

Three months ago i called it "the D-day":
SPX500-the D-day

I took some more time, las week the stock market crushed and many invertors are in panic.

I'm not a Wall Street analyst and dont like to talk much. This chart is telling me that this is just a needed correction before market continues rallying.

My prefered area for a rebound is the opposite bollinger band and projected EW channel for wave 4 circled.

The correction seems to be forming an ABC zigzag, so i will be sharp and quick.

Best regards.
Isn't your labeled wave (1) a 3 wave structure?
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Elliottician_SamRoy NickCoulby
a year ago
Agreed !
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Are you not buying Prechter's view of a B wave rally? Don't you think it makes the most logical sense with a stimulated run-up that ignored the 200lb gorilla by throwing more $$ at it?
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IvanLabrie TOP NickCoulby
a year ago
I think that's the case, top at year 2000.
The 3 wave thing is ok in a terminal impulse, but not sure that's the case here.
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NickCoulby PRO IvanLabrie
a year ago
Yea I mean everyone is entitled to a personal count, and Prechter's exact timing of the B wave completion has been off many times.. But I think he is spot on with his interpretation of it all as a B wave with the economic background. Have to see the forest from the trees..
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FullTimeTrader NickCoulby
a year ago
Hello, im not a suscriber of ew.com, i know there's a count of an expanded flat correction, i'm keeping it in mind. Anyway the directions are the same: i expect here a correction here to area shown on my chart an then the rally to continue..
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NickCoulby PRO FullTimeTrader
a year ago
I'm not either, I was just curious how you logically slapped a wave (1) onto a 3 wave correction?
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NickCoulby PRO FullTimeTrader
a year ago
And how are you keeping the expanded flat correction in mind by attempting to label this advance as a 5 wave structure? That would imply it's not a B wave rally.. Are you keeping it as an alternate?
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NickCoulby PRO NickCoulby
a year ago
Your description says you are CEWA level 1 certified, so I am just looking for some clarification.. Certainly not trying to disrespect your perspective or anything.
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