Any potential version of wave iv° looks too short to be complete right now. Moreover a closer look at wave ii° shows that we should expect wave iv° to be relatively shallow and complex due to alternation guidelines. The conclusion is that wave iv° is not in yet. We’re looking for a 2%-3% correction in total until wave iv° fits into a valid elliott wave pattern.
Trade closed: stop reached
Pls. refer to our latest S&P 500 update from Dec. 19th.
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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.