S&P 500 update: two of many possible options
It looks like the index is going to retest the former top as we got here the consolidation and not an impulse down as
was expected before as retracement prolonged.
Option 1 (blue) - we can see simple ABC 3-3-5 and A-B parts are done.
Option 2 (yellow) - we can drop one more time in double (WXY) or even triple three (WXYXZ, not shown).
The distance of the first leg up in A or (W) is enough to repeated in B or (Y) to tag the all-time high.
was expected before as retracement prolonged.
Option 1 (blue) - we can see simple ABC 3-3-5 and A-B parts are done.
Option 2 (yellow) - we can drop one more time in double (WXY) or even triple three (WXYXZ, not shown).
The distance of the first leg up in A or (W) is enough to repeated in B or (Y) to tag the all-time high.
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