ibra84

ibra84

could it be that easy ? it appears that the SPX might be in a long term bear that point directly to end of 2024, elliott wave and bear pennant pattern checks well IMO

ibra84

anybody care to share ideas/critics on this count ?

ibra84

Enterieng wave B pretty soon, maybe this week already?

ibra84

entering B wave ? probably soon ... if so this would be a possible roadmap for the next couple of years

ibra84

impulse wave cycle has ended and the corrective phase has begun, all the different technical analysis line up as well as the macro fundamental situation...

ibra84

first target moving forward is retest of previous resistance .... then it better bounce hard from there :)

ibra84

retest of the previous resistance now turned support, big area of resistance below but news and fundamentals are terrible ... brace

ibra84

long term it appears that this downside move is a retest of the broken expanding triangle pattern which would end up exactly at maj fib level ..around march april should bottom ?

ibra84

nobody knows where will it go from here but sure looks like we are at the top of the new rectangle ... Fun fact: both rectangles have same height using log chart

ibra84

Good luck counting waves on this mess .... anyway here is my take: looks like we are in wave 4 and expect more downside pressure until year end then on January wave 5 rally into the summer ! wishful thinking ??

ibra84

looks like we just completed a multi year impulse wave and now ready for the correction ... i had to change this count as i thought the correction was already completed with march 2020, low but none of the fib level was respected instead this count almost all of them are on the spot ...i am self taught so be nice :)