Elliott Wave Principle - SPX - B wave completing, downside ahead
We are currently in an ABC correction from an impulse wave from the March lows of 2200 to the high 3200s. The B wave is completing, which may go a tad bit higher, although it can retrace Wave V. Expect lots of downside with the C wave that is trad able under the Elliott Wave Principle.
Since the impulse is likely Wave I and the ABC correction is Wave II, then I would expect it to retrace to the .618 fib, but it can technically trace 100% of Wave I.
Good luck and happy trading!
Since the impulse is likely Wave I and the ABC correction is Wave II, then I would expect it to retrace to the .618 fib, but it can technically trace 100% of Wave I.
Good luck and happy trading!
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