PawelBanachowicz
Short

Shorterm MEGAPHONE on SPX

FX:SPX500   S&P 500 index of US listed shares
Correct me if I'm wrong but I see:

a - bottom support
b - top support
c - megaphone pattern
d - cycles (blue lines)

So I see such scenarios:

D - PRINT PRINT PRINT by FED friends and rise right to the moon ;)
C - small correction and then moon

A & B - Big drop as shown, with crash perspective

SL 2248 or none
TP 1970

RR ratio: 3.13

Please let me know what do You think guys.
dryanhawley
4 months ago
We may get a short term correction, due to summer and bad news globally I don't want to post the "T" word. But think we are heading into wave 5 up in the Monthly charts, so yes in daily timeframes we can get a wave 2. Day trading timeframes are the hardest to predict, not because the elliot waves don't work, but because of news, reports, etc that get muted in longer timeframes.
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PawelBanachowicz dryanhawley
4 months ago
recently We see also news and reports muted shortterm ;)
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PawelBanachowicz
4 months ago
GUYS one more thing.

Since 24.06.2016 SPX gained +- 190 points - aproximetly 10% (200/2168).

So in less then 1 MONTH those companies gained 10% in value !?!

Take a step back and thing about this!

All what happened during this month should drop this thing 10% not improve it!
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