Yellow is the main count but always aware of the Cyan Alternative. Basically the chart says it all, I'm just filling in space here so that it is published.
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Keep in mind the so called "Santa" or " Christmas rally" is not a scheduled event, Going back 10 years the average increase in the SPX between December 20-30, is 1% .... many years were lower or negative
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At this point Elliott counters might be advised to waits to see an allow the market provide more information before committing large amounts of capital. In the meantime I have settled on the chart above to best organize my trading plan around. The one thing that's guaranteed is change " be like water "
@mjcpaull, IF you look at the chart: IF your time frame is longer than a week, I would (and i'm not you) wait a week or two, Bullish or bearish the market will NOT leave the 4,000 without a retest an once it does retest you will have more information and can make a BETTER informed choice but you will need to manage your FOMO. If you can not manage your FOMO and or your time frame is under a week, bullish or bearish in the short term IMHO the larger move is lower. I said what I am doing, So use you strategies to trade, this is just my plan.
Leo-btm
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this scenario looks reasonable from price action perspective. I have the same idea before getting short the Emini
wolffarchitecture
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@Leo-btm, down or up I see a correction comming, I have been taking profits and transitioning to short small positions.