S&P 500 IndexLong
SPX - STILL NOT FINISHED?
One of possible scenario, no trade setup, based on HUGE october hammer reversal on big volume, maybe it is still sth. to finish or proceed. Premature = retail bears won`t like it, but they probably will be wiped away as always :( since there are no commercials shorts so far at spx futures.
Also, it looks to me like NASDAQ will not capitulate before revisiting ATH, check also the parabolic BTK index as current NASDAQ driver, you can never guess, how high will it shoot.
BUT, ON THE OTHER SIDE, wave 5 could be terminated ANYTIME, because of reaching 0.618 target of wave 1 at 2033.
LET THE MARKET SPEAK
INVALIDATION of long scenario is below 1821.67, so RRR is nothing to write home about, and thus not worth chasing the top.
Also, it looks to me like NASDAQ will not capitulate before revisiting ATH, check also the parabolic BTK index as current NASDAQ driver, you can never guess, how high will it shoot.
BUT, ON THE OTHER SIDE, wave 5 could be terminated ANYTIME, because of reaching 0.618 target of wave 1 at 2033.
LET THE MARKET SPEAK
INVALIDATION of long scenario is below 1821.67, so RRR is nothing to write home about, and thus not worth chasing the top.
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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.