AndyM
Long

S&P - the show is not over yet! EW markup.

FX:SPX500   S&P 500 index of US listed shares
S&P             is developing a zigzag correction after completing wave 1 within wave 5 of the main bullish trend . The corrective A wave is over, B wave is over, and C wave is completing its subwave 2. At the end of wave C we are going to land just above 2000, and chances are high enough to rebound into waves 3-4-5 of the main bullish wave 5. This is likely to take us from 2000 to approx 2270. This will mark the end of the bull's show for a year or two, but I still see this as a good opportunity to collect a few $$ in a long position.
Need to watch 2000 region carefully - if Wave C is over and then after a brief correction the downward movement continues then the bearish market is likely to have set in.
themiestro
2 years ago
Can't quite tell on my phone, but is (3) of A the shortest?
Reply
AndyM PRO
2 years ago
It's a bit longer than (1), so all looking good..
Reply
themiestro AndyM
2 years ago
Copy that bossman. FWIW, here is how I had it. Red is bear, purple is bull.

https://www.tradingview.com/e/0LgkFwjn
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 Account and Billing Sign Out