AndyM

1 / 0.886 / 0.382 impulsive pattern in SPX

FX:SPX500   S&P 500 index of US listed shares
229 2 7
An impulse where w3 is smaller than w1 and w5 is smaller than w3 often adheres to a proportion of 1 / 0.886 / 0.382 on how w3 and 5 are related to w1. This seems to be the case for this hopefully last impulse in SPX             which started at 1990.

I expect this impulse to finish at 2207 and then reverse.
Would love an update for s&p500, how does friday's drop affect affect your EW analysis?
I've been holding some shorts for quite some time.. wondering if we would see some more downturn, or if now would be a good time to sell.
Thanks any way
Reply
AndyM PRO KenzoMorsa
I think the bull market is over, we are seeing just the beginning of the decline, definitely worth keeping shorts until probably end Oct. We are going to see a continued decline into the Fed meeting on Sept 21st, probably reaching 2030 by then, then likely some up-and-down volatility before or after the meeting and after a few days later I expect the decline to continue. We should at least reach 1800, and finally break this level before a sizeable correction starts.
+1 Reply
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