SPX500 & ELLIOT
Updated
SPX500 is currently now in the ABC that compounds the 4th wawe.
Probably it will go at least till the Fibonaccio 38.2%, that in this case is around the last relevant low.
After completing this C leg and the correction that completes the 4th leg, SPX500 will try to develop the 5th wave of this impulse. Let´s see if they can reach the histocal highs again, and later if they can create another one...or this is the beginning of the end, the enf of these 10 years of bull market.
In this situation we take that short trading position.
Good luck and nice trading.
PS: if you like this analysis, the chart and the comments please share this idea with your friends and follow us to get the next comments in this strategy and the other ones now on. Thank you.
Probably it will go at least till the Fibonaccio 38.2%, that in this case is around the last relevant low.
After completing this C leg and the correction that completes the 4th leg, SPX500 will try to develop the 5th wave of this impulse. Let´s see if they can reach the histocal highs again, and later if they can create another one...or this is the beginning of the end, the enf of these 10 years of bull market.
In this situation we take that short trading position.
Good luck and nice trading.
PS: if you like this analysis, the chart and the comments please share this idea with your friends and follow us to get the next comments in this strategy and the other ones now on. Thank you.
Trade closed: target reached
As expected .... from 3001.50 to 2967.50 points.+34 points, traded with futures are +1700$ in this trade, 4 days.
Congrats !!!
#MARKTADVISOR #tradingthatworks
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