SPX - ending diagonal?
It looks like the market chose the most confusing structure to confuse everyone looking for a turn and convince them that it will never come.
Right now it looks like a possible ending diagonal, so there might be a bit more to go (although the 5 can undershoot or overshoot), but basically the 5 can end any time from now up until the upper pink TL. The green line at 2001 is an important overlap - it will overlap the first wave down from ATH, so getting above that would be worrying.
Interesting enough the cycle analysis from mcm is showing a slow-down of the current upward thrust and the potential for a (bigger) turn:
mcm-ct.com/blog/interim-newsletter-3rd-of-march/
Good luck out there!
Right now it looks like a possible ending diagonal, so there might be a bit more to go (although the 5 can undershoot or overshoot), but basically the 5 can end any time from now up until the upper pink TL. The green line at 2001 is an important overlap - it will overlap the first wave down from ATH, so getting above that would be worrying.
Interesting enough the cycle analysis from mcm is showing a slow-down of the current upward thrust and the potential for a (bigger) turn:
mcm-ct.com/blog/interim-newsletter-3rd-of-march/
Good luck out there!
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