Spx500 Elliott idea
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Not sure WHY, not sure "HOW" all the market "news" is wrong, and with the "don't fight the FED" herd montra repeating itself out there, I have to admit this seems very contrarian.
BUT technically I am seeing the possibility that market may be very close to a bottom, which could result in a meaningful bounce or rally or short squeeze...whatever.
I divide the SPX by the Dollar (particularly when the dollar is soaring) to remove the impact the dollar has on the indices chart. From pure momentum and sentiment point of view you can see we are back down testing the top of Covid
BUT technically I am seeing the possibility that market may be very close to a bottom, which could result in a meaningful bounce or rally or short squeeze...whatever.
I divide the SPX by the Dollar (particularly when the dollar is soaring) to remove the impact the dollar has on the indices chart. From pure momentum and sentiment point of view you can see we are back down testing the top of Covid
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