Intermediate Bottom in SPX or a Little Lower?
SPX bounced off the monthly 0.382 Fib long, then retraced down to the 8H HWB (blue). It will be bearish if SPX breaks back below the white trendline (over-throws are).
We will likely reach the weekly opposing GZ around 3428 if bulls keep the blue GZ safe. We could be in the C leg of a running EW flat correction (notice the daily hidden bull?). Prices are still officially in weekly algo shorts though - notice the clean algo defence - which are targeting $3400.
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We are algorithmic traders and certified Elliotticians. We publish Elliott Wave and algo technical analysis on a daily basis for indices, stocks, cryptos, commodities, VIX, DXY, in weekly, daily and 4-hour timeframes. Our counts are not drawn subjectively but backed by solid algo trading evidence. We also answer all your questions regarding the Elliott Wave Principle!
Cryptos are updated every day of the week and on Saturday, if necessary.
Traditional assets are updated every day of the week.
Elliott wave & Fibonacci labelling:
Common path in white, bullish count in green, bearish count in red.
We will likely reach the weekly opposing GZ around 3428 if bulls keep the blue GZ safe. We could be in the C leg of a running EW flat correction (notice the daily hidden bull?). Prices are still officially in weekly algo shorts though - notice the clean algo defence - which are targeting $3400.
Please like and share if you appreciate this market update.
We are algorithmic traders and certified Elliotticians. We publish Elliott Wave and algo technical analysis on a daily basis for indices, stocks, cryptos, commodities, VIX, DXY, in weekly, daily and 4-hour timeframes. Our counts are not drawn subjectively but backed by solid algo trading evidence. We also answer all your questions regarding the Elliott Wave Principle!
Cryptos are updated every day of the week and on Saturday, if necessary.
Traditional assets are updated every day of the week.
Elliott wave & Fibonacci labelling:
Common path in white, bullish count in green, bearish count in red.