SPX 500 is about to finish off Wave 5 on Supercycle and Wave 3 on Grand Supercycle! Wave 4 on Grand Supercycle is expected to go down and break the March low caused by the sell off due to Covid-19!
Even If I was wrong and it will not collapse then must at least retrace the 5 Waves up since March low to Wave 4 level around 3,200 area!
Expected top area: 3,981/4,108
Keep an eye on these levels tho: 3,981 3,993.8 4,023 4,044 4,059.5 4,108
I will provide in details analysis and counts below :)
If you have any questions, feel free to comment and I would love to hear your opinions and see your charts :)
GOODLUCK!
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Zoomed in
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4 hrs chart count of the 5th Wave
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Expecting an Ending Diagonal!
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Wave 5 on bigger pic as EDT!
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Do not get excited about the method, it's just an invention of mine lol using: 1-RSI 2- EWT 3- Fractals
I am not going to explain how I use the RSI to draw these trend lines but basically the RSI shows me where to put dots on the chart and then I connect them through lines (discovered through experience).
Will it work??! I don't know and I am not expecting it to but what If it did? damn! hehe
What interesting here is that I tried it on Covid-19 drop and it worked!! Also, while I was doing that, I spotted similar fractal that may or may not lol be repeated..SOON!
When do we know that the theory fails? the pink trend line to be broken 1 day candle closing!
You could say that trend line already broke before right?? yes but we all know that Wave 3 and 4 99% of the time break the channel as a fake out ;)
Let's see lool
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HOW LOW CAN THE PCE GO??!! EXTREME GREED!!!! DO WHAT YOUR UNCLE WARREN TOLD YOU TO DO ;)
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MONTHLY RSI at MAJOR FIBO RESISTANCE!!!
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SPX 500 Possible Triangle Idea
Bullish after breaking green label Bearish after breaking red label
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Ready for ATH?
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NASDQ 100 same concept another ATH!
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AS LONG AS SPX 500 DOES NOT TOUCH PREVIOUS LOW AT 3665.1 THEN ANOTHER AND FINAL ATH IS EXPECTED!!!
like your stuff but i think we are headed to 4250ish and then after a pullback up to 4500ish by YE. 5000ish by 2023 and then we take the elevator down from there in a bear market that will last years. Basically i agree with your overall premise but i have different parameters for the move
unicow
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@alexander2014, maybe we'll get to 8,000 too. the fundamentals are all there too.
GreenCandleTrading-GCT
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@alexander2014, nice view mate but for me 4100 max and if breaks then my analysis would be invalid. I really could not think of a possible count to reach 4250 but all possible and might be something I cannot see in the chart. Thanks for your opinion mate appreciate it.
Wadadz
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I currently trading stocks and not indices, but your indices analysis gives me the overall potential direction of the market.
Wadadz
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Thanks for this update!
ProfitHarvest
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Nice PCE chart...
bschafer
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Seems to have rejected off your red resistance line...looking pretty juicy
ProfitHarvest
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Nah man, 20% chance maybe, rates gonna crush!
GreenCandleTrading-GCT
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@ProfitHarvest, as long as 3665.1 is not touched then another ATH is expected. The impulse from 3665.1 was not zigzag which means this drop is just part of that impulse and it would be B wave from a zigzag and should go higher to complete C wave as final leg up before going down hard.
Brizzy64
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Legit the same exact ending pattern too. I would watch out for a surge in ending volume as that's what effed me last time I shorted the SP last year in january