SPX WEEKLY BULL (PRIMARY DEGREE ALTERNATE 1)
Hi all,
A steady and healthy up-trend for the S&P. My first or main e.w. count locates price in intermediate wave 3 yellow of primary wave 5 red of cycle wave 3 purple.
Primary wave 2 red unfolds as a running flat and completes at 23.6% retracement of wave 1 right after establishing a clear motive structure downward labelled at minor degree blue. Like the DAX30, the structural wave count for the running flat fails to meet the criteria, however the exception is made once again as for its ideal look and a clear 5 count for wave c.
Primary wave 3 red was very complex as for the few extreme fluctuations, it made it more difficult to count. Therefore Primary wave 3 can be labelled whichever way. However I have chosen to see an extensions within an extension because not only is it a guideline and expected, but several reactionary waves found support at 0.618% retracement level suggesting motive structure at one lesser degrees.
Primary wave 4 red has unfolded as a simple zig zag. The correction is different to wave 2 in terms of form, depth and duration.
It is possible that price may be in the early stages of forming a contracting diagonal whereby intermediate waves 1 and 2 yellow would be relabelled A and B. This idea is plausible given the nature of waves 1 and 2 yellow to be unlike the traditional motive structure i.e. wave 2 doesn't meet the retracement guideline. However if it is then we will anticipate that intermediate wave 4 manifests differently in terms of form, depth and/or duration.
__________________
Confirmation = 2131
Invalidation = 1807
Target 1= 2355 (where primary 5 equals primary 1)
target 2 = 2459 (where primary 5 equals 0.618 x primary 3)
A steady and healthy up-trend for the S&P. My first or main e.w. count locates price in intermediate wave 3 yellow of primary wave 5 red of cycle wave 3 purple.
Primary wave 2 red unfolds as a running flat and completes at 23.6% retracement of wave 1 right after establishing a clear motive structure downward labelled at minor degree blue. Like the DAX30, the structural wave count for the running flat fails to meet the criteria, however the exception is made once again as for its ideal look and a clear 5 count for wave c.
Primary wave 3 red was very complex as for the few extreme fluctuations, it made it more difficult to count. Therefore Primary wave 3 can be labelled whichever way. However I have chosen to see an extensions within an extension because not only is it a guideline and expected, but several reactionary waves found support at 0.618% retracement level suggesting motive structure at one lesser degrees.
Primary wave 4 red has unfolded as a simple zig zag. The correction is different to wave 2 in terms of form, depth and duration.
It is possible that price may be in the early stages of forming a contracting diagonal whereby intermediate waves 1 and 2 yellow would be relabelled A and B. This idea is plausible given the nature of waves 1 and 2 yellow to be unlike the traditional motive structure i.e. wave 2 doesn't meet the retracement guideline. However if it is then we will anticipate that intermediate wave 4 manifests differently in terms of form, depth and/or duration.
__________________
Confirmation = 2131
Invalidation = 1807
Target 1= 2355 (where primary 5 equals primary 1)
target 2 = 2459 (where primary 5 equals 0.618 x primary 3)
تعليق:
This wave count states that 1) primary 4 completed as a simple zig zag and 2) primary 5 should unfold as an ending contracting diagonal
