Here I'm showing the idea that SPY gets stuck in repeat MODE every so often. Actually it is the Principal of Alternation at work here. The key give away is the increase size of the beginning pattern (circle) that leads to the run up (rectangle).
In this chart I am showing a run up, their is a good chance that the run could actually be inversed in the a fall of equal size and pattern. <--- this would confirm the next phase down in Elliott Wave Theory. As then we would be on the final wave of the A,B,C correction that started on Jan 3, 2022 with a leading diagonal. Let me know what you think, Happy trading
In this chart I am showing a run up, their is a good chance that the run could actually be inversed in the a fall of equal size and pattern. <--- this would confirm the next phase down in Elliott Wave Theory. As then we would be on the final wave of the A,B,C correction that started on Jan 3, 2022 with a leading diagonal. Let me know what you think, Happy trading