S&P500 - 200+ points drop possbile if price is below 4344
Updated
S&P500 - As I said on my last post, it's very likely we're in an Ending Diagonal wave 5 here and should therefore not initiate any longs just because we saw price make a new high.
The ED is invalidated if price is to go above 4344.
We can look for support at the noted orange zones at first.
If the Blue impulsive count is correct, we can expect wave 4 to be more sideways and retrace wave 3 only a bit due to the alternation guideline.
The ED is invalidated if price is to go above 4344.
We can look for support at the noted orange zones at first.
If the Blue impulsive count is correct, we can expect wave 4 to be more sideways and retrace wave 3 only a bit due to the alternation guideline.
Comment
BTW since I can't share images from outside TV, I've posted a very interesting chart on my Tgram channel showing the S&P's performance on during FED days.
Don't forget to like, share and follow !
Questions? Chat or Comment on Ideas
Don't forget my public Telegram channel -
t.me/em16public
Thanks !
Questions? Chat or Comment on Ideas
Don't forget my public Telegram channel -
t.me/em16public
Thanks !
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.