gowithetf

SPY 15 Minute Chart - Wave 4 today and then a down 5?

Short
BATS:SPY   SPDR S&P 500 ETF TRUST
0
SPY struggled with 1500 and failed to close below it.

It looks like we could finish the elliott wave 4 and could turn into a wave 5 movements.

The wave 4 could form somewhere in the gap and the wave 5 target is the 50 moving average on the daily chart .

Lets see what happens today. Your thoughts?

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.