Drownedgod

Drownedgod

Blue area will be interesting

Drownedgod

looks bullish. long play

Drownedgod

look for a break of ending diagonal to the downside.. Should be a nice correction.

Drownedgod

If it goes a bit higher most likely going to reject off of the 50 SMA.. Could bounce on the golden ratio or the 786 as labeled if it holds in the pattern. Just my thoughts do your own DD

Drownedgod

..

Drownedgod

..

Drownedgod

buy zones are highlighted 61.8 or the 65 are very good buy zones if not the highlighted zone below. If white line is broken with conviction watch out below.

Drownedgod Updated 

If sooo could go like this

Drownedgod Updated 

Is the upward correction done?? SP:SPX AMEX:SPY

Drownedgod

target is highlighted only for B I don't know about C yet, but if the support below holds could go something like that. Also could be a more complex abcde correction. Or we could just breakout higher who knows?? I just take it one trade at a time.

Drownedgod

targets

Drownedgod

The 50 moving average is free falling will we cross over?? Will the 200 moving average hold like it has so far? Those are things we need to keep a eye on. Also the RSI looks like a bear flag and the MACD has crossed bearish. The EMA's have switched to a bearish order, and all this on the daily chart. Note the EMA's are not pictured on this chart, but you could...

Drownedgod

corrective waves seem to be upwards while the impulsive waves seem to be downwards.. The EMA's have switched to a bearish trend and are contracting together about to make a move

Drownedgod

corrections seem to be the up waves and the impulsive waves seem to be coming going downwards.. the EMA's are contracting together setting up for a move. The EMA's also have flipped to a bearish setup meaning the 55 EMA is on top of the other EMA's... Looks like the bears are still in control, but we still have to see how this plays out. These are just my current...

Drownedgod

completing the the second wave big time buying opportunity to go long. Bull market for the rest of 2018 is here if all goes while. 25-35k target if extended 50k could happen, but I think that's the target for the 5th wave for next year. Be patient and let the trade come to you.

Drownedgod

time to correct could go something like this

Drownedgod Updated 

5 waves down for the 3rd, and the 4th most likely will be abcde correction. This is my bullish count.. Also added the death cross moving averages.

Drownedgod

looks bearish and if it drops below the support line a drop to 20000 is my target range