S&P500 Elliot Wave- Sell the 1940-80 area

FX:SPX500   S&P 500 Index
252 0 3

Current Labeling: corrective wave 4 up. I have two scenarios for wave 4, orange and white.

ORANGE SCENARIO - This scenario assumes wave 4a and 4b are finished, and 4c is close to finishing.

WHITE SCENARIO - This scenario assumes that the move from 1810-1940 is wave 4a up and close to finishing. Next, wave 4b should set a Higher Low, so > 1810, possibly at support 1830. Once 4b is finished, wave 4c will target the 1980 area to finish wave 4 up. After that, wave 5 down will take the S&P500             to Lower Lows.

Both scenarios agree on overweighting shorts for a retest of the JAN 20 Low.

There’s resistance @ 1940, 1955 and 1980 so that could be the area where wave 4 will top and wave 5 down will start.

My scenario of wave 4 up becomes invalid if 1993, the low of wave 1, breaks to the upside as wave 4 can not overlap wave 1.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
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