Is The SP500 In A Bear Market Now? The Answer Is Very Clear!
Bull Or Bear Market.....Now?
Does the future markets price action confirm a top in the SP500?
There are 2 different counts on the chart a red and a yellow.
Both are 5 waves sequences which could indicate further moves lower to come after a retrace.
The internal technicals for a top is confirmed and the odds has increased.
The SP could have topped as an Ending Diagonal the 18th of may 2015.
But nothing is confirmed yet! Nothing!!!
Can SP still make a HH..?. Yes but... but let the price recover first before consider the bull side.
Then let's look at a more bullish count.
We do simply not have the nail in the coffin confirmation before break of the white line.
So...! Nothing is settled and done with price action in the futures market !
And at the same time the futures markets action needs to be manifested in the SP too before anything can be conclued.
I have posted a chart at gyazo showing possible Harmonic Patterns that can play out from $ES_F price action.
If you agree with my chart or just want to show appreciation - please click the thumbs up in top left corner of the chart.
I would really appreciate it!
TWUC
@BLawrenceM
Follow me on twitter for intraday updates and scalp plays
Music at work:
www.youtube.com/watch?v=ysVUQPie...
Does the future markets price action confirm a top in the SP500?
There are 2 different counts on the chart a red and a yellow.
Both are 5 waves sequences which could indicate further moves lower to come after a retrace.
The internal technicals for a top is confirmed and the odds has increased.
The SP could have topped as an Ending Diagonal the 18th of may 2015.
But nothing is confirmed yet! Nothing!!!
Can SP still make a HH..?. Yes but... but let the price recover first before consider the bull side.
Then let's look at a more bullish count.
We do simply not have the nail in the coffin confirmation before break of the white line.
So...! Nothing is settled and done with price action in the futures market !
And at the same time the futures markets action needs to be manifested in the SP too before anything can be conclued.
I have posted a chart at gyazo showing possible Harmonic Patterns that can play out from $ES_F price action.
If you agree with my chart or just want to show appreciation - please click the thumbs up in top left corner of the chart.
I would really appreciate it!
TWUC
@BLawrenceM
Follow me on twitter for intraday updates and scalp plays
Music at work:
www.youtube.com/watch?v=ysVUQPie...
