S&P 500 IndexShort
S&P BEARISH DIVERGENCES, ELLIOT WAVE BLA
Crucial moment for the S&P500, where the abcde inverse triangle megaphone pattern has played out.
Caution to the wind as this may be a trap; one pattern plays out - connecting wave in the form of w-x-y with the same bearish divergence.
Honestly I would close longs or enter shorts here. Best case if in good profits just wait to see what happens if price ever reaches 4320 area
If WXY correction, then the same pattern may repeat, taking us to 3100-2900 zone (my target zone)
My second count give us a wave 1 if 4320 is breached on weekly candle close then we can stop hunt both sides into a higher low.
Caution to the wind as this may be a trap; one pattern plays out - connecting wave in the form of w-x-y with the same bearish divergence.
Honestly I would close longs or enter shorts here. Best case if in good profits just wait to see what happens if price ever reaches 4320 area
If WXY correction, then the same pattern may repeat, taking us to 3100-2900 zone (my target zone)
My second count give us a wave 1 if 4320 is breached on weekly candle close then we can stop hunt both sides into a higher low.
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.
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.