This is an update to my ongoing analysis of the S&P 500 index outlined below.
I was last expecting a bounce, and wow we got one heck of a bounce allright.
The move resembles a classic wave 3, which I think is near complete.
So now we should see a wave 4 pullback and then a wave 5 to complete the bounce.
After this 5 wave bounce, I think we will consolidate for a while and then take another dip.
.
Background:
My SPX journey started in early October 2018, when the first dip hinted at a move to 2500 per this plan
As it was dropping, I did see some opportunities to long such as this plan:
Once the above plan played out and hit target, I was pretty sure it would fall again
And as it fell and fell, I saw a bounce coming:
So now I am measuring the bounce, and expecting it to fade at some point
I was last expecting a bounce, and wow we got one heck of a bounce allright.
The move resembles a classic wave 3, which I think is near complete.
So now we should see a wave 4 pullback and then a wave 5 to complete the bounce.
After this 5 wave bounce, I think we will consolidate for a while and then take another dip.
.
Background:
My SPX journey started in early October 2018, when the first dip hinted at a move to 2500 per this plan
As it was dropping, I did see some opportunities to long such as this plan:
Once the above plan played out and hit target, I was pretty sure it would fall again
And as it fell and fell, I saw a bounce coming:
So now I am measuring the bounce, and expecting it to fade at some point
Note
Well the lower retracement played out perfectly .
Note
Further thoughts on the price action with notes on the chart Note
Check out the EXACT tests of the fib boundaries. 
the Golden Ratio is my Religion
the Trading View is my Nation
the Moderator Tag is my Flag
the Trading View is my Nation
the Moderator Tag is my Flag
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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.
the Golden Ratio is my Religion
the Trading View is my Nation
the Moderator Tag is my Flag
the Trading View is my Nation
the Moderator Tag is my Flag
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.