If we break the channel support and the GZ below, the probability of us being in the W5 will rise.
Do not exclude that the bottom is already in, even in this sanitary & economic chaos. This could be an extremely important swing if our primary/bearish scenario occurs though.
Is this the big short opportunity in SPX?
The downward structure channels well which implies it may not be an impulse.
S&P 500 (2H) / Primary & Alternate
Are we going to fill that gap around 165 in FB?
Same EW plan than in AMD, it's little brother Either pink A is an impulse and you'd be riding a C down, or pink A is actually corrective and you'd be riding a 3 down to hell... Notice the potential inverse H&S here...
Oil prices could be short term bullish
Isn't this a clean impulse down in progress? The base channel and the EMAs blocking prices, the 0.382 fib hit at an early stage, and the the declining volume are typical of a triangle wave 4 here.
#Bitcoin Update Moment of truth coming. If we choose the green path, we may be in the B of the Y of the complex C leg of the macro triangle. If we remain in the primary count, a dump is imminent. The question we should ask ourselves now is: what is #BTC waiting for?
Way too early to anticipate a triangle X right now but we could see a double zig-zag down if the downward structure in 2020 T1 was not an impulse.
If we haven't completed a deep expanded flat 4 here (within the A of the macro flat W4), then we may retrace to the next GZ and possibly bounce off the upper trendline of the channel.
This could be in play. Answer in the coming trading days.
If you are a bear, be on your guard if you see NVDA making a clear 5th subwave here and break the GZ
Wave 5 confirmed (beware that we could still be within the B leg of a triangle 4 - which wouldn't change your plan much if your are already in).