Analyticssage

S&P500 Elliot wave ,bearish setup , Update 6!

Short
CURRENCYCOM:US500   S&P 500
Jesus! I cant believe this is the 6ht update on this Sh*T!
this market is becoming so boring and I can't believe it has not crash yet!
I have some big short position on this so I am watching this non stop.
this is the last count. there are 3 possibles as I explained in my previous post.
1- a triangle and the wave 5 and then crash
2- crash
3- another uptrend extension!!!!(can't even imagine this as an option!)

I am going for the triangle option as I am not 100% sure about the last wave, I can not confirm 100% is the wave 5 is over or not
Comment: It seems that the triangle Idea gonna be correct, wait for the breakout to confirm it
Comment: in case anyone wants to trade this pattern this is the setup
Comment: so , wave 5 now !
Comment: the wave count is complete now, complete 5 way, I am expecting the market to crash at some point
Comment: this is the 2day chart, will it crash just around the all time high?
Comment: the market is not moving at all! I was expecting to see an uptrend for wave 5.
in case it dose not move and crashes this will be the possible wave count
an ending diagonal for wave 5.
I am NOT 100% sure yet as it is not moving to waves to unfold. I am giving you a option
Comment:
Comment: The fact that we broke the D wave it proves the ending triangle idea we had before.
The market is downtrend until I see a reversal sign.
How far will it go?
There are 3 targets but I need to see a 3rd wave starting first

Comment: The ideal.target will be where the triangle started but we need to break the d wave of the daily triangle first .
So my first target is the d wave of the triangle
This is the daily chart
Comment: If it breaks the invalidation I will stop counting bearish until I see another signal
I am also not buying this as all the indicators show divergence
Comment: The bigger trendline is at the fibi ratio
So I am expecting the price to get there
Trade closed manually

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