FX:SPX500   S&P 500 index of US listed shares
7789 29 225
Hi Guys, I remember the last time this starts to correct and everyone freaked out believing it's the top. (check chart pinned ) It seems like a 5 wave up move is about to complete and that means a higher degree correction is coming. I would follow it on lower time frame to see the turn. If you are in the buy, you might want to watch it closely.


Trade with care
Thank you for your support.
Comment: Started to** correct
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Sure is .
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Great call Anil, hats off to you Sir for being way ahead on the break out, I also believe you will be correct on the way down as well.
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ernstschwarz MineThis1
@MineThis1,

think so too!
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I think if you see a Fed hike in march the market will pull back.
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That is a serious prediction. In case it goes further up people may get grouchy. How far is the pullback? Is it a correction? (cause 2-5% and 10-20% are difference things)
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@2use, the prediction is not for grouchy people. It's based on my analysis , everyone should use his own analysis .
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2use anilmangal
@anilmangal, I know and you are indeed perfectly right. I always ask the possible outcome because many say it will go down, but not until what price, and why it may do so. The market is not as it used to be before, and there are so many new things to it (take snapchat and its valuation). So another question is when do you consider the down turn scenario violated? What if it goes higher from here? (I ask this because on everyone's radar and indicators it screams over bought..but it keeps going up and people will have a hard time if this happens, shaky hands will get stepped out, and hopeful bulls will take it higher) I agree for once that the rate hike might affect this, but i feel it is already partially priced in the market - because everyone knows it had to be done at least once since 2015.
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@2use, my analysis is based on wave structure (i don't really try to guess what are the reasons, since we will never know it until after the fact.) I will follow the last wave up until it shows a turn on the lowest degree.
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2use anilmangal
@anilmangal, Thanx, You mentioned "Started to** correct" - is that happening now and its a turn?
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@2use, the ** mean I corrected something above.
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2use anilmangal
@anilmangal, Now it makes sense. I felt it was a message/idea update that it started to correct (and i did not see where)
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tududu PRO anilmangal
@anilmangal, Looking forward to a more detailed view as this unfolds, looks like it's a very valid warning.
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SPX500 Not a convincing sell yet


my view on the 4H chart.
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ALUCARDDROL ernstschwarz
@ernstschwarz, just have arrows
thats it, just arrows.
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ernstschwarz ALUCARDDROL
@ALUCARDDROL,

sorrry, what you try to say?
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I was wondering if you were considering posting another chart on the S&P. I also believe that we have a 5 wave completion with the recent blow-off top. Thanks
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Could not agree with you more. Since the 5th wave is usually about the same time frame as wave 1, we could see a sell off which gets bought to the prior level and then collapse around Dec. or next Jan. Usually the first dip gets bought and the second one gets sold.
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Stocks generally perform very well prior to a correction, time to tighten up stop losses. It may not happen as quick as many may think, but eventually it will happen. Best wishes and good luck to all.
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thanks
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Market Bubble (HUGE correction soon)
yep very soon
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ALUCARDDROL x2ManyPips
@x2ManyPips, this is hilarious

just arrows pointing down.
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As usual, good job!
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Anil, thanks for the view. I'm just curious when did the W4 end? At the beginning of 2016 near 1800?
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I agreed. Very high probability we are at the 5th wave of the BIG 5th Wave(projection area around 2500 )
Tighten the stop and watching to short.
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looks much like mine DJIA forecast. u should like it)
I also tried to predict bull and bear markets in time.
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OleksandrSnitko OleksandrSnitko
DJIA forecast
waves are fib related.
DJIA long term [2017 - 2022] forecast (wave analysis)
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Nice trade setup, thank you for sharing your view on this pair. I have same idea as well.
SPX 500 SHORT BREAK AND RETEST TRADE SETUP
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Agreed, wave 5! Wait for topping pattern
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Hey Anil, do you see this as a double zig zag up move? (corrective?

your trendlines and fib level look that way to me?

thx
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