Updated SPX short wave 4

Based on EW analysis and most statistical fib ratios combined with existing supports. Wave 4 should be a double zig zag as wave 2 was a flat. ABC-X-ABC or 2 downward impulses, this is the real question.

A few weeks left...

Note

Note

Bullish scenario has been potentially invalidated by a wave 4 retracing into wave 1. Looks like the selling pressure was too strong. The chart above shows the wave A of the correction: XYZ. If this scenario becomes bearish indeed, I expect Z to be either a ABC, zigzag or triangle. Time will tell.

From now on, I will short every spike up until 2404.

Trade active

Short1, TP 2420

Order cancelled

I actually will sit this one out. Weird times. Big gap up. Futures climbing up at the speed of light... Will update.

Note

Looks like this scenario is unfolding. I started building the short position too early though, because im weak. Fun times.

Terl

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Terl