FX:SPX500   S&P 500 index of US listed shares
Although we whipsawed the highlighted base channel, buyers have been unable to successfully backtest it and we've currently a completed corrective wave up from the 2064 lows. We've also come within a couple of points of completely retracing our entire magenta extended fifth wave at 2120 as was assumed early on was a decent probability. At this point sellers would like to see the minor overnight pivot high of 2109 hold or they risk seeing this turn into an impulsive wave which would mean the potential for further upside before the 2064 low was taken out. Below is the link for today's projections and key timing.

If you have any question about our analysis or any of our analysis systems, contact me at any time at john@mcm-ct.com. Good luck and profitable trading today.


http://mcm-ct.com/blog/intraday-projections-bear-is-arriving/
timwest PRO
a year ago
Could you show a longer term wave count so we can see what this pattern is in context of the larger pattern? Maybe a split-screen next time? (idea)
Reply
MCM_Creative_Technologies timwest
a year ago
Hi Tim,

Thanks for the feedback/suggestion, much appreciated.


Reply
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