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SPDR S&P 500 ETF TRUST
Long

Possible SPY movement

I'm trying to understand the Waves O' Elliot. Could this be a valid chart for SPY? I have a good understanding of Fibs, support and resistance, but I'm not really sure the proper placement of the waves beside the 5 up 3 down concept. Any feedback would be awesome. If it's terrible please let me know.

Thanks. Stay Green!
InTheMoneyMike
Also on:
Elliott WaveESSPX (S&P 500 Index)SPDR S&P 500 ETF (SPY) Trend AnalysisWave Analysis
InTheMoneyMike
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