AndyM
Short

Elliott channel in SPX, more decline ahead.

FX:SPX500   S&P 500 Index
Hi All,
just a quick update on SPX             . We see a regular impulse development, which becomes even more apparent if enclosed within an Elliott Channel.
The final target for this decline is unclear, but a couple of targets are shown on the chart.
tgting grey box
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mkdeep04 mkdeep04
it difficult to say weather this is abc w4 or w1 of 4 or major corrective wave.... crossing below 1780 can comfirm cycle ended n we r in bear mkt
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It's a shame that I trailed my first entries stops too early on. I reshorted after your 4th completion, let's see how it goes. I'm expecting a gap down open.
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AndyM IvanLabrie
i exited SPX, then re-shorted.. we are so used to low-volatility bounces back and fourth that the presence of such a large decline seems unrealistic. I want to give it a try though. It's an opportunity of a lifetime. Made 90% on the account in wave 3.
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For sure it is!
I entered at 1984.39, so you can imagine my bitterness haha. No prob though, in again from 1930.1 and 1918, sl is at invalidation. Should take us to 1786 in a week.
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webmiztriz IvanLabrie
Ivan...same ? for you as well..
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Hi andy...do you just short spx or do you use leveraged vehicles?
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AndyM webmiztriz
Hi! Just SPX futures, they are leveraged of course, in a sense that you you need to secure some margin on you account in order to trade them and the margin is a just fraction of your total exposure. My provider offers CFDs on SPX so I use those instead because the margin requirements are twice lower.
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