WallStScalper

"Shoot to thrill" the SP ...is still vulnerable.

FX:SPX500   S&P 500 index of US listed shares
1025 16 24
EW wave 4 pennant in spe

Still C a lower low coming before a correctional ABC wave up as a wave 2 of the 3rd wave (still to come).
When do price tells us that we are going lower? With the break of the 127.2 fib line. Then I C a possible target at 2032

The Bullish Bat on dayly is a strong indication that the market hasn't completely surrendered yet...that bulls still hope for better days. (See link below)
With the break of 2067.92 I'll make the argument that the top is in and the low of october 15th 2014 will be revisit.
Ending Diagonals always comes back to where they started!!! It's not a matter if but when.

Remember in bear market surprise is always to the downside so top should be shortened.

So
Short term: Chop
Intermediate term: Lower then up
Longer term: Bearish

If you agree with my chart(s) or just want to show appreciation - please click the thumbs up in top left corner of the chart.
I would really appreciate it! Thanks!

TWUC
@BLawrenceM
Follow me on Twitter for intraday updates and scalp plays. I do most of my updates there!

Music at work: AC/DC Shoot to Thrill from Ironman 2
https://www.youtube.com/watch?v=xRQnJyP77tY
https://open.spotify.com/track/5dXhC3HFJZUcYWzJ59960b
Wall St Scalper
Babar PRO
a year ago
i agree
+1 Reply
WallStScalper PRO Babar
a year ago
Thank :)
Reply
Nice, Bill Williams-ish EW.
+1 Reply
https://twitter.com/BLawrenceM/status/616241920965222401
Reply
WallStScalper PRO WallStScalper
a year ago
https://twitter.com/BLawrenceM/status/616243061434265600
Reply
CoolCreekCTA
a year ago
SPX so far has not broken above this channel; they are trying to push it up. Seems serious resistance, sellers, at this level. maybe your thesis will be correct. Time will tell.
+1 Reply
WallStScalper PRO CoolCreekCTA
a year ago
Chart still technically valid Right now wave 4 back to lower degree wave 4 and hasn't made a higher high... Yes technically it's possible. The bullish argument ... see my tweet right under this.
Reply
I have added my trading plan for the day... https://twitter.com/BLawrenceM/status/616249975731847168
Reply
CoolCreekCTA WallStScalper
a year ago
I know. I follow you on twitter. I'm still short, aiming for 64 or better. Mkt seems to be losing steam, could it be exhausted?
Thanks, Jack
Reply
WallStScalper PRO CoolCreekCTA
a year ago
I'm out flat now... I see chop chop and chop
Reply
AndyM PRO
a year ago
I think wave 5 is already completed in this impulse - take a look at the correction - its breadth and duration is related to the whole impulsive structure. So we have a complete 1-2 setup. Now either it unfolds into another 1-2, or into a 3rd wave is a different question.
Reply
WallStScalper PRO AndyM
a year ago
Yes my bias is also to the upside at the moment... but technically we could have a wave 4 reaching back to 4 of lower degree.. so nothing is settled and done for the time being. Plz have a look here. for bulish and bearish setup: https://twitter.com/BLawrenceM/status/616320164859129856
Reply
AshYo WallStScalper
a year ago
what is it like tomorrow?
Reply
WallStScalper PRO AshYo
a year ago
My answear: https://www.youtube.com/watch?v=X5h02ZmeB5c

The benefit of following me at Twitter could have been this:
https://gyazo.com/7ce11e335b4ea424c401ee4b28b44128

Best to your trading @BLawrenceM
Reply
there is a bunch more structure needed to complete an impulse wave, if that's in fact what is developing here. circle 1 in my chart shows a wave that you potentially missed in your count, coming off the ATH. It's still unclear whether this is corrective or impulse, but as you pointed out, we definitely have enough momentum to have a 3rd wave low, whether that's a 3 of C or a 3 of 5, time will tell.
snapshot
Reply
FractalTrader PRO FractalTrader
a year ago
meant to say recent high above, not ATH....but now that I mention it, it's worth pointing out that the ATH was back on 5/19, and the retrace off that high was also a 3 wave structure. So even if this is impulse, it's still probably a big A.
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out