SPDR S&P 500 ETF TRUSTUpdated SPY might be seen as Elliott waves, up to 285, down to 235
This is one of the images in my vision. I will provide another different image of "V" reversal pattern later, it will be same as 12/24/2018 reversal, SPY will go to new high.
In this image, SPY is in the Elliott waves wave #4, and in a smaller Elliott waves wave#3 (w3).
285-290 is the target of wave4.
If there is Gap to wave4 trend line, Wave5 target will be T1=235, T2=220;
Verify the midway Gap will help to measure the whole trend range.
I personally used Gaps:
G1: Trendline break Gap. Gap up/down to break the previous Trend Line.
Start a new trend in opposite direction.
G2: Midway Gap. This shows 40-50% of a trend;
Next range will be the other 50-60%.
G3: Exhaustion Gap. It is after a big trending range.
This shows near the end of a trend;
In this image, SPY is in the Elliott waves wave #4, and in a smaller Elliott waves wave#3 (w3).
285-290 is the target of wave4.
If there is Gap to wave4 trend line, Wave5 target will be T1=235, T2=220;
Verify the midway Gap will help to measure the whole trend range.
I personally used Gaps:
G1: Trendline break Gap. Gap up/down to break the previous Trend Line.
Start a new trend in opposite direction.
G2: Midway Gap. This shows 40-50% of a trend;
Next range will be the other 50-60%.
G3: Exhaustion Gap. It is after a big trending range.
This shows near the end of a trend;
Trade closed: target reached
SPY 220 had been reached
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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.