possible 5 wave structure in the S&P 500
It would seem as we are about to complete the 5th wave of a 5 wave structure on the S&P500.
Given that we could state we are in wave 4 of wave 5, we could expect a wave 5 of 5.
This could be finished at the confluence area of the 1.27 and 1 fibonacci in 2493 - 2527.
Wave 5 of 5 could also fail to make a new high and go short way before.
In conclusion, it could be a good idea to stock up in gold or start getting ready for a short in the S&P 500. It could take a while though.
If we follow the guideline of Equality (in which wave 1 is equal to wave 5) we could be seen this in October - November.
It is possible within the Elliott Wave framework for the wave 5 to be incomplete, therefore we could be seeing it sooner.
Given that we could state we are in wave 4 of wave 5, we could expect a wave 5 of 5.
This could be finished at the confluence area of the 1.27 and 1 fibonacci in 2493 - 2527.
Wave 5 of 5 could also fail to make a new high and go short way before.
In conclusion, it could be a good idea to stock up in gold or start getting ready for a short in the S&P 500. It could take a while though.
If we follow the guideline of Equality (in which wave 1 is equal to wave 5) we could be seen this in October - November.
It is possible within the Elliott Wave framework for the wave 5 to be incomplete, therefore we could be seeing it sooner.
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