Adjusted Wave 2 based on Friday's low
This chart is adjusted for the bottom on Friday. My target top has also slide to around 3988 at most. We will see how the week plays out. It will likely be slow until the Fed with plenty of speculation. If Elliott Wave Theory holds up, the Fed rate decision and/or the press conference will begin the major 350+ point drop.
Here is a zoomed in chart of the microwaves plotted inside of Minor wave 1 (yellow)
Here is a zoomed in chart of the microwaves plotted inside of Minor wave 1 (yellow)
All forecasts are based on analysis of past behavior. Prior movements are not always indicative of future movement. Develop the theory, test the theory. Do your own research. Nothing in this analysis constitutes advice. YouTube For More. Good luck!!
Related publications
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.