SPX 101 CLASSIC TRENDING, CHANNELS AND FIBS

Updated

101 CHART'S DRAWING

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Still playing with the lower line of the broken channel. They did not dare to ENTER the channel. Look how many candles so far ? ALL KISSING THE LINE

wish all the best.

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we are getting close to our first main support .236 fib

wish you all the best.

Note

Today is our third time playing with .236 fib. Every time we try closing below it we get a bounce back. It stands @ 2357. Almost, like the lower channel line.

On the other hand 15 minute Elliott wave count from the top is an ABC satisfied
with C being not Equal to A ( C only reached .76 fib of A) . But, as you now Elliott wave always finds a way to proof you wrong :-) no matter how hard you do it.

In Conclusion: either this bounce is 2 of 3 of 5 down. Or we are going up and the pull back is done and we should see 5 waves up to a new ATH.

I believe it is time to set back and look at what is going on out side of the stock market to get a better understanding. ( it could well be a Bull's trap). still September to mid October sensitive time to anything that would Triger a correction ?

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Hey Guys,

this idea is playing really well.

wish you all the best.

Note

Did we hit my target or did we hit my target : -). To the point ; - ).

wish you all teh best.

samitrading

I do more in depth studies of stocks on my twitter account. Hope you would enjoy it there as you are enjoying it here.

****** Past performance is no guarantee of future results***

twitter.com/samitrading1

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