There really isn't much new to add yet for a big analysis. We moved down in a 5-wave move described in my last post and proceeded to move higher again as predicted. We did NOT make a new high, although we raised slightly more than expected and then dropped once again. I expect price to make another low and drop to the low $490's before a small retrace higher again. After that the strength and speed should pick up significantly to the downside as that will be wave iii of 3 of a of B. Until we get some more price action, I can't say for certain, but MACD seems to be backing this count at this time. This will most likely be the last time I post SPY on here unless something crazy happens this week.
Don't forget, beginning February 23rd (this Friday), I will be dramatically changing my posting schedule here on trading view. My last regular post / update will be on that day.
With NVDA posting good results and rising after hours, likely means SPY will continue to rise - wave B will need to wait.
TSuth
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@bumbumbole lol, they don't wait. either the count is wrong or it will head down. nvda is a very influential stock, but it by itself is not enough to sway the entire S&P
mohsinusa
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this stuff is really mind boggling wave iii of 3 of a of B. hopefully will learn some day
TSuth
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@mohsinusa wave 3 consists of 5 waves. iii is the third wave within wave 3. a wave usually has 5 waves so 3 is the third of that. the larger B wave should have a smaller abc pattern hence the a
TSuth
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@mohsinusa if you join my site, there will be package that contains educational material