The chart posted is the sp 100 I am posting it as we are now at the crossroad for bull or bear count .We have rallied to .786 as I will show and have a wave a x 1.27 = c at the .786 High But if we break above 5922 in the Cash SP 500 There is NOTHING to stop it from reaching a target of 3005 in the OEX where wave A up or wave 1 x 1.618 = wave C Top or wave 3 in the SP 500 WAVE A or WAVE 1 up 5481 - 4835 = 646 x 1.618 =1045 plus wave B low or wave 2 5102low= 5102plus 1045 =6147.22 The exact high . This is the reason I took the loss and moved LONG .Best of trades WAVETIMER
Note
I have Now covered All puts at 5895 . Wave structure is Not i impulsive down it is corrective > I have taken a 35 % long calls and now see up till at least 5997 But odds are growing for A or 1 x 1.618 both at 6147 now Note
If the sp 500 cash gets above 6183 I can see a blowoff to 6385/6450
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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.