A correction unfolding in the S&P 500

٨ سبتمبر ٢٠٢١

Greetings traders! Looks like the ES_F is unfolding into an ABC correction! Off the highs we can see 5 waves forming that would give us an A wave. Once this has terminated, I would be on the look out for a 3 wave correction to give us our B wave, then another 5 waves down to finish the C wave. This would give as wave 2 of a higher degree! The most likely targets would be between 50% and 61.8% of the entire swing, so be on the lookout for 5 waves moving down to between 4450 and 4425 in the mini S&P futures! Good luck!