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S&P 500 E-mini Futures

/ES Target

80
I'm seeing two scenarios shaping up, we have either put in a leading diagonal Wave1 and we are retracing a wave 2 now,or the B wave of a possible ABC correction just completed with an ending diagonal. We are coming up to a critical level, the 50 and 61.8% retracement of the previous wave. We will know in the next week or two which direction this market is going. Keep in mind we have only been in a correction for around 150 days, very short considering the how long the bull run lasted.
ESSCRS
Chart Patternses_fS&P 500 (SPX500)SPDR S&P 500 ETF (SPY) Trend AnalysisWave Analysis

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Chart Patternses_fS&P 500 (SPX500)SPDR S&P 500 ETF (SPY) Trend AnalysisWave Analysis
ESSCRS

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.