EuroMotif

SPX near term targets: S&P500 Bounce Watch (15 min chart)

EuroMotif Mod Updated   
FOREXCOM:SPX500   S&P 500 Index
Part of my ongoing analysis of the SPX.

SPX bounced from the exact zone anticipated in last analysis (click).
This is a short term plot to observe the bounce going into NY open.
The bounce looks "Impulsive" for sure, so am looking for 5 waves.

The Elliott Wave path is just a rough guess.
But the Fib Zones are solid areas of concern.
Reaction at each zone will be telling of strength.

This method help me spot the recent Top
Also helped spot the Top in October 2018

.

See some of my other plots and trade calls below.
I also plot Forex and Crypto, take a look at my profile page.

FaceBook bounce
Twitter bounce
NetFlix bounce
Amazon scalp
Gold long
Silver long
Oil long

Of course, I have had total FAILS on some ideas too, not going to pretend.
But all of my plots show PRECISE entries, TIGHT stops, and EXACT targets.
Precision is the way of the Fib. Almost every turn happens at a Fib Line.

.


Comment:
So far so good, but wave 5 might get truncated gap down after hours, not sure why, prolly some Trade War development. Still hanging on the fib, so lets see if it goes another band up.

.
Comment:
Just hit first target in UK session, waiting to see the reaction (if any)
Comment:
Zoomed in we see the exact reaction to bottom of resistance zone plotted
.
Comment:
Looks like a completed Impulse wave going into NY open
.
Comment:
Higher tf fib from my previous Idea that was looking for this bounce from the green zone Another hint of possible bounce completion with prefect reach into the band.

.
Comment:
Final Target hit towards end of US session
.
Comment:
Awe Inspiring Beauty 500 companies, with x00 variable each, xMillion investors each, yet the average price turns on a Dime ... err, PENNY !

WOW

.

the Golden Ratio is my Religion
the Trading View is my Nation
the Moderator Tag is my Flag
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.