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InTheMoneyMike

Possible SPY movement

Long
SPDR S&P 500 ETF TRUST (AMEX:SPY)  
InTheMoneyMike  
AMEX:SPY   SPDR S&P 500 ETF TRUST
Wave Analysis Trend Analysis SPDR S&P 500 ETF (SPY) SPX (S&P 500 Index) ES Elliott Wave
1
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waveanalysis trendanalysis spy spx es elliottwaves
I'm trying to understand the Waves O' Elliot. Could this be a valid chart for SPY? I have a good understanding of Fibs, support and resistance, but I'm not really sure the proper placement of the waves beside the 5 up 3 down concept. Any feedback would be awesome. If it's terrible please let me know.

Thanks. Stay Green!
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