Today I want to discuss about the bull and bear cases for S&P and introduce the fractal concept
Bull case:
Cup with a handle
uptrend can be considered 1-2-3 wave and recent downmove as 4th wave
it is a possibility because wave 4 is in wave 1's terrority, similar to the big downtrend. But this can also be considered a leading diagonal
downtrend sub-wave 5 ended on uptrend wave 1
Bear case:
Fractal
retracement % is very close
both retracements reached peak of wave 2 of same degree
Preferred Elliott Wave Counts
Risk-reward is better on the short side now
speed of upmove
Bull case:
Cup with a handle
uptrend can be considered 1-2-3 wave and recent downmove as 4th wave
it is a possibility because wave 4 is in wave 1's terrority, similar to the big downtrend. But this can also be considered a leading diagonal
downtrend sub-wave 5 ended on uptrend wave 1
Bear case:
Fractal
retracement % is very close
both retracements reached peak of wave 2 of same degree
Preferred Elliott Wave Counts
Risk-reward is better on the short side now
speed of upmove
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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.
Related publications
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.