FX:SPX500   S&P 500 Index
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Although it's dropping I see nothing clearly motive - too many ups & down, i.e it's still zig-zagging,
so abandoning triangles as it dropped out, a flat? Still rare as a wave ii.
I think a strong possibility this is being seen as a short term correction down to the lower edge of the now famous up-channel (emphasised in dark), so happily just sell off & buy back.
Think a strong probability it will jump back up to 1978-86 area to form the last leg, where ... let's see.
The clear motives are, well, clear, wave (i) from 5, & wave i of ( iii             ), thereafter, a mess.
Besides the markets are waiting for how QE-y the ECB can be (tomorrow).
I'm in short with stop at 2001, but not in a hurry to load up, no, no. To me it MUST be falling in the right way.
Don't have the EW skills as you do, just a general idea. You are correct, very choppy! This is what I am thinking
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Thanks for the chart share... I'm not very experienced with EW, nor in a bear market, I know what I see ... maybe I'm being too fussy ... Let's see what tomorrow brings
+1 Reply
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