I did Elliot wave and count the correction ABC with FIB. Possible we are heading to prolong ABC correction that is bearish to take down all the gains in 2020.
I created the Cycle analysis with trendlines of supports and resistances. I kind of inserts the Elliot Wave with ABC pattern. As you can see, the TNX is forming a head and shoulder, that means S&P could form a reverse head and shoulder to form Bullish. But I am long for now because the TNX is possibly forming bearish.
