Update on my last post on SPX futures but this time on the cash.
My opinion that an ending DIagonal final wave C (in the Bear Market Rally since March lows) is being formed has not changed.
Ending diagonals can be tricky creatures and we often see short-term sharp overshoots of the top trendline in the final 5th subwave.
The above count is the worst-case scenario I see for the bears.
We should end this ending diagonal anytime in the next 1-3 trading days so the final subwaves I have shown rising above are not necessary but I believe based on the latest price action a very real possibility to give the "right look" to the ending diagonal.
Link to my longer-term Elliotwave counts on the S&P 500 futures is below.
Cheers!
Cyrus
My opinion that an ending DIagonal final wave C (in the Bear Market Rally since March lows) is being formed has not changed.
Ending diagonals can be tricky creatures and we often see short-term sharp overshoots of the top trendline in the final 5th subwave.
The above count is the worst-case scenario I see for the bears.
We should end this ending diagonal anytime in the next 1-3 trading days so the final subwaves I have shown rising above are not necessary but I believe based on the latest price action a very real possibility to give the "right look" to the ending diagonal.
Link to my longer-term Elliotwave counts on the S&P 500 futures is below.
Cheers!
Cyrus
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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.