Dr_Roboto
Long

S&P 500 Elliott Wave Analysis Update - close lower today then up

AMEX:SPY   SPDR S&P 500 ETF TRUST
Been working on this the last few days. Fixed some mistakes in previous idea. So far (if I implemented it correctly this time) the wave analysis is holding true.
Comment: The end of day short squeeze / pump & dump blew this model out of the water. Will be interesting to see if the market corrects today.

Comments

This is WRONG, wave 4 should not end in the price territory of wave 1. There is only one condition that it can happen and that is irrelevant because this light green wave count is the sub wave count of a bigger wave 3 and WAVE 3 CAN NOT BE A DIAGONAL, it should be a impulse wave. Wave 4 and wave 1. Can just overlap in a diagonal and because of the mentioned fact it is not and can not be diagonal.
+2 Reply
Easy 2800 coming fix ur chart.
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You dont see a sub 300 drop?
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Can you post your count up
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Dr_Roboto yosip1115
@yosip1115, major motive wave is dark green and dark read following the traditional 5-3-5-3-5. Currently in wave 3 coming off of spring test on May 14. Wave 1 was off the bottom and wave 2 was early May. The subwave is bright green and bright red. Currently on wave 4 of a 5-3-5-3-5.

Does that answer your question?
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yosip1115 Dr_Roboto
@Dr_Roboto, Oh, coming back to this page I see the count now. When I commented it was just a blank chart with the blue price line. Def answered thx
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Dr_Roboto yosip1115
@yosip1115, no problem. I noticed sometimes you need to move your mouse over the chart for things like text to show up.
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