AMEX:SPY   SPDR S&P 500 ETF TRUST
SPY

SPY has completed a 5 wave sequence.

-Wave 1 & Wave 5 Extended

-Correction Wave B went above the terminal point of Wave 5.

-Elliot calls this an irregular correction and can be subject to "Double Retracement". Double Retracement corrects Wave 5 and then the whole wave sequence.

I don't think we could see a double retracement due to economic conditions.

Chart:



Catalyst:

1. White House
2. Geo-politics

Will update.

-AB
Oct 05
Comment: Potential Headline Catalyst Down:

1. Kavanaugh
2. Mueller
3. Midterms
4. Big Tech - Breaking News about Data Collection methods by FB, TWTR, and Google.
Oct 05
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Oct 05
Comment: Irregular corrections usually appear after wave 5 of a cycle, and would correct the entire five waves according to Elliott’s approach to this phenomenon. The first move after the end of wave 5 would be a three wave affair and is labeled as Wave A. The Wave B that follows will also be in three sub waves but the price will exceed the top of Wave 5. Thereafter, we will get a normal Wave C made up of five sub waves.
Oct 05
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Oct 05
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Oct 05
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Oct 05
Comment: Wave 5 extension= 16.47%
Oct 05
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Oct 05
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Oct 05
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Oct 05
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Oct 05
Comment: A bad storm is brewing.
Oct 05
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Oct 05
Comment: Prior Super Cycle Correction was a Flat.
Oct 05
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Oct 05
Comment: We are in the beginning of a new Super Cycle.
Oct 05
Comment: Other headline catalyst:

-FISA Declassifiation
Oct 06
Comment: Implemented an Put option strategy to protect portfolio.
Oct 08
Comment: Looking ready to drop...
Oct 08
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Oct 08
Comment: New Headline about to drop?
Oct 08
Comment: Narratives matter...
Oct 08
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Oct 08
Comment: These Sub-Waves will provide the bigger picture.

Extending S-3?
Oct 08
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Oct 08
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Oct 08
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Oct 08
Comment: Wave C needs 5 Sub-Waves to be completed.
Oct 09
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Oct 10