Overview: the price action is nicely following our expectations. Let's review a note on the weekend update: "I believe we are in wave a of (III) of a of Z." This morning, I had the following count on SPX and expected wave b of (III) to end on either 0.236 or 0.333 retracement of wave a of (III).
Update: today, we tested the 0.236 retracement (4056.5) and formed a head & shoulders pattern. The structure of wave b of (III) has completed a double zigzag so far and absolutely can be considered as a complete structure. However, I believe wave b is not complete yet and I expect it to turn into a triple zigzag retesting 4076.75 area. If we break the upward channel decisively, then wave b is complete and we have started wave c of (III). Note that based on the price target of the head & shoulders pattern, I believe the second wave X is yet to be complete as shown on the 5-min chart.
Update: today, we tested the 0.236 retracement (4056.5) and formed a head & shoulders pattern. The structure of wave b of (III) has completed a double zigzag so far and absolutely can be considered as a complete structure. However, I believe wave b is not complete yet and I expect it to turn into a triple zigzag retesting 4076.75 area. If we break the upward channel decisively, then wave b is complete and we have started wave c of (III). Note that based on the price target of the head & shoulders pattern, I believe the second wave X is yet to be complete as shown on the 5-min chart.
منشورات ذات صلة
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.
منشورات ذات صلة
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.