SPY - EW: Alt Count | Finishing W-5 of W- C of Yellow Wave B
I am having to shift towards my alternate count because price action broke over yesterdays high and has continued since then. I would like to see a minor gap up Monday then pullback with a continue with trend Tuesday/Wednesday.
My price target is 430 range (its a range) which is at the 100% meaning = move of wave 1 or extended wave 3 at 161.8 at 436/437. I will be watching price action around these areas for that wave 4 pull back. I think this will be a long and drawn out wave 4 possibly flat. So round trip possibly ending next friday-ish (8/19 maybe to 8/23)
Wave 5 completion looks good for labor day which historically is bullish.
This is just a possibility, and will be watching price action carefully for structure of the wave.
Good Luck Traders!
PS: 430 call 8/17 & 8/19 is something i'm eyeing to pick up on this coming pullback possibly Monday to see if we push higher afterwards in the next couple sessions.
My price target is 430 range (its a range) which is at the 100% meaning = move of wave 1 or extended wave 3 at 161.8 at 436/437. I will be watching price action around these areas for that wave 4 pull back. I think this will be a long and drawn out wave 4 possibly flat. So round trip possibly ending next friday-ish (8/19 maybe to 8/23)
Wave 5 completion looks good for labor day which historically is bullish.
This is just a possibility, and will be watching price action carefully for structure of the wave.
Good Luck Traders!
PS: 430 call 8/17 & 8/19 is something i'm eyeing to pick up on this coming pullback possibly Monday to see if we push higher afterwards in the next couple sessions.
Comment:
so far looking good. We'll see how next couple sessions play out.