SUMMARY
The S&P 500 (SPX) has decisively broken out of the symmetrical triangle which has been re-drawn to fill the full sequence of ABCDE waves. This thus negates the D wave breakout as discussed yesterday. The white wave 1 which was the breakout wave occurred in a five wave impulse. The remaining waves 3,4,5 are pointing to newer all time highs. IF white wave 2 is complete then purple subwaves of white 3 is likely in progress now. Purple 2 could decline towards 2,700 or so.
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Thanx for research :-)
thank you grat post
Expecting the best and for that.......
Your analysis is wrong! It's not a triangle and you won't see new high for a while as it's in correction:
It could be anything. There is a triangle pattern, but it can also be a wxy unfolding. The point is to know if it's a '4'. In that case there will be a new high with the 5th (unless it's truncated). The channel you draw in yellow can also be a diagonal 5th and give us a new high. Time will tell ...
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Thanks for the information, you are alway updating me.
Hi ,
Nice post , check my crypto blog aswell @lightreflections !
As always, a very detail and realistics analysis.
Thank you very much!
Interesting topic, I congratulate you, thank you for sharing!
You should also write "To the Moon!"
Look at the Chaikin money flow analysis. This is not a healthy rise while big money is getting out. I'm sorry but Elliot waves are one of the least reliable analysis in my view.