Overshoot in SPX Before the Next Dump?
It will be bearish if SPX breaks back below the white trendline (over-throws are). Prices are still officially in weekly algo shorts though - notice the clean algo defence - which are targeting $3400.
Definition of an overshooting:
investopedia.com/terms/o/overshooting.asp
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We are algorithmic traders and certified Elliotticians. We publish Elliott Wave and algo technical analysis on a daily basis for indices, stocks, cryptos, commodities , VIX , DXY , in weekly, daily and 4-hour timeframes. Our counts are not drawn subjectively but backed by solid algo trading evidence. We also answer all your questions regarding the Elliott Wave Principle!
Cryptos are updated every day of the week and on Saturday, if necessary.
Traditional assets are updated every day of the week.
Elliott wave & Fibonacci labelling:
Common path in white, bullish count in green, bearish count in red.
Definition of an overshooting:
investopedia.com/terms/o/overshooting.asp
Please like and share if you appreciate this market update.
We are algorithmic traders and certified Elliotticians. We publish Elliott Wave and algo technical analysis on a daily basis for indices, stocks, cryptos, commodities , VIX , DXY , in weekly, daily and 4-hour timeframes. Our counts are not drawn subjectively but backed by solid algo trading evidence. We also answer all your questions regarding the Elliott Wave Principle!
Cryptos are updated every day of the week and on Saturday, if necessary.
Traditional assets are updated every day of the week.
Elliott wave & Fibonacci labelling:
Common path in white, bullish count in green, bearish count in red.
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