SPY Elliott Wave Triangle Still In Play
The move off of the upper triangle boundary d has been a little difficult to decipher,due to overlapping everywhere, but here's what I got.
Leading expanding diagonal wave A, with a 3 wave move to w. 3 wave bounce to x, followed by wave y, A), which may or may not be complete. When complete we should rally to wave B), followed by a wave C) drop to complete wave e of the triangle.
A significant break of the lower triangle support line, around 259 by the time SPY gets there, would throw out the triangle theory. Frequently, wave e falls short of the lower support line.
Leading expanding diagonal wave A, with a 3 wave move to w. 3 wave bounce to x, followed by wave y, A), which may or may not be complete. When complete we should rally to wave B), followed by a wave C) drop to complete wave e of the triangle.
A significant break of the lower triangle support line, around 259 by the time SPY gets there, would throw out the triangle theory. Frequently, wave e falls short of the lower support line.
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.