$SPY - Filling the gaps - Elliot Wave analysis
https://www.tradingview.com/x/vrGhBMi5/
With the unsettling issue of the approaching debt ceiling deadline on Oct. 18th, 2021, the timing of this potential drop in price is quite coincidental.
Applied my Fib extension starting at the top of corrective Wave (B) and lined up Fib 0.618 on Wave (A). The depth of Wave (C) is still in progress.
This scenario brings Fib level 1.618 indicator to approx. 404.07, which coincidentally is approx. where the previous gap to be filled on Apr. 5th, 2021.
Coincidence?
This is my TA opinion only.
With the unsettling issue of the approaching debt ceiling deadline on Oct. 18th, 2021, the timing of this potential drop in price is quite coincidental.
Applied my Fib extension starting at the top of corrective Wave (B) and lined up Fib 0.618 on Wave (A). The depth of Wave (C) is still in progress.
This scenario brings Fib level 1.618 indicator to approx. 404.07, which coincidentally is approx. where the previous gap to be filled on Apr. 5th, 2021.
Coincidence?
This is my TA opinion only.
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