S&P 500 - Waves, Trend Lines, and Channels
Updated
An overview of all the important waves, trend lines, and channels since Feb. Note that my waves may not match most other peoples. Everyone else is trying to make this years rally as a new motive wave and I have it marked up as a corrective wave B. The numbers make more sense to me that way. I don't really know where it is going in the next few days. It feels like we should see an impulse back up after all of this selling. It really feels like there is a lot more drop to come. My confusion is that the NASDAQ looks to be in a bullish pattern looking for a push for a double top. As we all know what the NASDAQ does greatly influences what the S&P does.
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Came up short of touching the major S/R trend line since 2011.Related publications
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