Yesterday's Analysis Still Holds
The analysis from yesterday remains important and valid. It can be found here: https://www.tradingview.com/chart/SPX/wbm6mo6Z-Buckle-up-as-SPX-history-s-ride-is-not-over/
It appears Minor wave 1 most likely finished today and we are in the midst of Minor wave 2. It is possible the low prior to today's close finished Minute wave B. This means Minute wave C and Minor wave 2 will likely finish tomorrow. We will likely move up during the morning and take out the high from today.
Here is a rough take on our waves so far:
https://www.tradingview.com/x/sz5jBKr4/
Bottom line is we are still in Intermediate wave 3. The actual bottom to Intermediate wave 3 has plenty more days to make it below 3900. The concept from yesterday that waves ending in C33 drop greater than 150% and conservatively land around 200% the movement of wave 1 is much easier to attain now.
This chart is the current plan. I will update it as more waves complete.
It appears Minor wave 1 most likely finished today and we are in the midst of Minor wave 2. It is possible the low prior to today's close finished Minute wave B. This means Minute wave C and Minor wave 2 will likely finish tomorrow. We will likely move up during the morning and take out the high from today.
Here is a rough take on our waves so far:
https://www.tradingview.com/x/sz5jBKr4/
Bottom line is we are still in Intermediate wave 3. The actual bottom to Intermediate wave 3 has plenty more days to make it below 3900. The concept from yesterday that waves ending in C33 drop greater than 150% and conservatively land around 200% the movement of wave 1 is much easier to attain now.
This chart is the current plan. I will update it as more waves complete.
All forecasts are based on analysis of past behavior. Prior movements are not always indicative of future movement. Develop the theory, test the theory. Do your own research. Nothing in this analysis constitutes advice. YouTube For More. Good luck!!
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