S&P 500 IndexUpdated SPX's Elliott wave, possible change of count. Gaps behavior
Usually we get Gaps in a 3ed Elliott wave or in "C" wave which show the strength of that wave
In our case , since March low we are getting more gaps in wave 5 than waves 1+2+3+4 !!!! not
good indicator that we have the right count !!! it is very possible that March's low is basically
still corrective and this is wave "B" and we re in wave "C" of it. Therefore, it is very probable
that our wave 5 is acutely a wave c of B. Then we will correct in wave C and break March's
low. Or i could be wrong ; -).
wish you all the best.
In our case , since March low we are getting more gaps in wave 5 than waves 1+2+3+4 !!!! not
good indicator that we have the right count !!! it is very possible that March's low is basically
still corrective and this is wave "B" and we re in wave "C" of it. Therefore, it is very probable
that our wave 5 is acutely a wave c of B. Then we will correct in wave C and break March's
low. Or i could be wrong ; -).
wish you all the best.
Order cancelled
wave B violated Elliott wave by extending 1.39 fibs of wave A. Therefore,gaps here has no meaning except that we are still in wave 3 sounds
not reasonable yes, but probable yes. Either way, this is not a wav B.
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****** Past performance is no guarantee of future results***
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
I do more in depth studies of stocks on my twitter account. Hope you would enjoy it there as you are enjoying it here.
****** Past performance is no guarantee of future results***
twitter.com/samitrading1
****** Past performance is no guarantee of future results***
twitter.com/samitrading1
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.