FX:SPX500 S&P 500 index of US listed shares
Today, we make a choice. In the previous publication I told you about the two versions of events. I remind you. The first version of events. Wave (A) was completed on 19th May 2016 and the wave (B) has been completed, too. Today we are witnessing the development of wave (C). A second version of events. Expanding Triangle 4 was completed on June 8th, 2016, and today we are seeing the development of the wave 5. Both the options suggest that the market should move down. Today, we make a choice between two options. Let’s put on the table the description of the two options. And in accordance with the set of attributes we make a choice in favor of wave (C). The first reason. On the Dow Jones’ chart wave E has reached the starting point of wave 3. Correction 4 is overlap the price range of wave 2.This is a violation of the wave theory. The second reason. Look again at the first option. Pay attention to the waves (A) and (B). They have nearly the same time wave formation and the same dimensions. An interesting observation. In the wave (A) triangle 4 looks more than triangle 2. In the wave (B) triangle 4 looks more than triangle 2, too. Probably, it will be continued in wave (C). Today we are witnessing only the first part of wave (C).