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Dr_Roboto
Jun 2, 2020 3:34 PM

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

SPDR S&P 500 ETF TRUSTArca

Description

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
farzinsabbagh
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.
adamans
Easy 2800 coming fix ur chart.
sprucebruce03
You dont see a sub 300 drop?
yosip1115
Can you post your count up
Dr_Roboto
@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?
yosip1115
@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
Dr_Roboto
@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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