SPY - EW: Main Count
This is what I'm thinking. We have one of two situations.
1. We are still in wave 5 down and are in wave 2 about to make wave 3. Invalidation is wave 4 - 401.53
2. Wave 5 finished early (Truncated) and we are moving towards A,B,C. Thursday will be a very important day to see structure.
Ultimately, for wave 5 down we will need to continue downward and break previous low.
Key area's I'm watching:
UP: 400, 401.53, 403, 405
Down: 397.47, 396.36, 395, 393.89
Good Luck Traders!
1. We are still in wave 5 down and are in wave 2 about to make wave 3. Invalidation is wave 4 - 401.53
2. Wave 5 finished early (Truncated) and we are moving towards A,B,C. Thursday will be a very important day to see structure.
Ultimately, for wave 5 down we will need to continue downward and break previous low.
Key area's I'm watching:
UP: 400, 401.53, 403, 405
Down: 397.47, 396.36, 395, 393.89
Good Luck Traders!
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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.