FX:SPX500 S&P 500 index of US listed shares
The control point. April 20th the market has reached a maximum. The wave goes downward from this maximum. I call it the wave (E). But this is temporary. Pay attention to its structure. Probably it will be consist of five waves. Wave 2 is an expanding triangle, and wave 4 is a tapering triangle. Wave 1 and 3 are trends. Wave 1 has the ideal structure. Wave 3 is as follows. I am showing all the tiny details of wave 4. Probably on Monday we will see a wave 5.But that's not all I wanted to say. Even if it happens I do not see in this movement the energy. I have a habit of looking back. Wave (3) has a complex structure. I may be made a mistake and made an incorrect description of the wave (3). And today we are seeing the completion of a tapering triangle (4). In this case, the rally will continue. Even today, I think it is possible. Go back to 2010 and look at the chart of the index. But if it happens, then by a small amount. Because in this case we seeing an extension in the wave (3). Today, I do not know what decision to take. The last wave consists of five parts. I think at this point a sharp growth will not occur and Monday will give us time to make a decision. Best Regards, Maxim Grigorev. Full version here.