S&P 500 analysis in Daily chart.
Updated
Hello
I have decided to share this chart as simp,e as I can because I just want to mention its markings.
There is an alternative counting for this charrt that say this last upward trend was wave 5 (Primary) and then bearish market will start.
I do not want to be dogmatic but it is not so possible because :
- wave 4 primary corrected more than what I can accept it as an wave4.
- all market and most importantly main symbols that have the the main part of the market cap is going upward.
- Dollar is also getting powered
What I have counted is wave 1 and 2 in extension forms but every thing is possible in this damn market and just need to wait and see and then decide.
For this chart I think we will see a correction as wave 2 primary of wave 3 cycle of wave 3 super-cycle (Extensions).
Please let me know your ideas.
Thanks
I have decided to share this chart as simp,e as I can because I just want to mention its markings.
There is an alternative counting for this charrt that say this last upward trend was wave 5 (Primary) and then bearish market will start.
I do not want to be dogmatic but it is not so possible because :
- wave 4 primary corrected more than what I can accept it as an wave4.
- all market and most importantly main symbols that have the the main part of the market cap is going upward.
- Dollar is also getting powered
What I have counted is wave 1 and 2 in extension forms but every thing is possible in this damn market and just need to wait and see and then decide.
For this chart I think we will see a correction as wave 2 primary of wave 3 cycle of wave 3 super-cycle (Extensions).
Please let me know your ideas.
Thanks
Note
Purple channel is breaking down (Probably )Just let it go down
Note
wave 2 is in progressNote
I guess it corrects deeper levels and I do not trade till it breaks out 5260 or I can count a reliable bullish impulse
AMA
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