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SPX's Elliott wave, possible change of count. Gaps behavior
S&P 500 Index
SPX's Elliott wave, possible change of count. Gaps behavior
By samitrading
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Updated
Mar 8, 2021
3
Cheer
Cheer
Feb 20, 2021
Usually we get Gaps in a 3ed Elliott wave or in "C" wave which show the strength of that wave
In our case , since March low we are getting more gaps in wave 5 than waves 1+2+3+4 !!!! not
good indicator that we have the right count !!! it is very possible that March's low is basically
still corrective and this is wave "B" and we re in wave "C" of it. Therefore, it is very probable
that our wave 5 is acutely a wave c of B. Then we will correct in wave C and break March's
low. Or i could be wrong ; -).
wish you all the best.
Mar 8, 2021
Order cancelled
wave B violated Elliott wave by extending 1.39 fibs of wave A. Therefore,
gaps here has no meaning except that we are still in wave 3 sounds
not reasonable yes, but probable yes. Either way, this is not a wav B.
Beyond Technical Analysis
Chart Patterns
gaps
Technical Indicators
SPX (S&P 500 Index)
S&P 500 (SPX500)
samitrading
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I do more in depth studies of stocks on my twitter account. Hope you would enjoy it there as you are enjoying it here.
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