As a result of forming a triangle on SPY over the last couple of days, here is a possible Elliott Wave count for SPY. A bearish view is that we came off the September highs in a leading diagonal for wave 1, then began forming a large corrective 3-3-5 flat for 2. Triangles are often found in wave 4s, so I believe we could be nearly done with the 5 waves of "C" of the corrective flat. Once that completes, we should then begin seeing the beautiful, deliciously destructive forces of wave 3.
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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.