S&P500 (SPX)
The breakdown of the rising wedge which was posted a few weeks ago, looks to be confirming to the downside for further momentum which displays a clear risk-off sentiment still in play (if not even close to being priced in).
What's risk off? "Investors tend to change asset classes depending on the perceived risk in the markets. For instance, stocks...
The price broke down key level 6199 and D1 close under it.
On the chart we see that the price bounced many times from that level and made a fake broke. It is powerful signal that big players are interested in that level.
I look for a short near: 6189.9
S/L: 6218.5
T/P: 6044.7
C.C.L. — Candle created level
C.A.P. — Candle Approved level
F.B. — Fake broke
P. -...
ASX 200 started a new five Elliott wave structure after the completion of correction in Februrary 2009. It has since completed four waves on a monthly scale and is now running upwards in its fifth wave which is likely to terminate around 6800 and go down to around 4500.
Why do I think so?
If we zoom in in the period from February 2016 when the fifth wave...
