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

FX:SPX500   S&P 500 Index
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.

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

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Music at work: AC/DC Shoot to Thrill from Ironman 2
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.
FractalTrader FractalTrader
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.
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.
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
AshYo WallStScalper
what is it like tomorrow?
My answear: https://www.youtube.com/watch?v=X5h02ZmeB5c

The benefit of following me at Twitter could have been this:

Best to your trading @BLawrenceM
I have added my trading plan for the day... https://twitter.com/BLawrenceM/status/616249975731847168
CoolCreekCTA WallStScalper
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
WallStScalper CoolCreekCTA
I'm out flat now... I see chop chop and chop
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.
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