S&P 500 - Elliott Wave Count (Closing in on end of wave 3?)

7 mag 2021

This is my latest and best attempt at an Elliott wave count for the S&P. Rather than just guess at waves, I prefer to use fib levels to help identify them. Assuming that I have wave 1 correct, then I see a wave 3 with impulse that is closing in on it final subwave 5. That hopefully should bring us to a solid correction for a wave 4 before making a long push for wave 5. As always with Elliott Waves, they are more art than science, especially so in a such a "manipulated" market that has risen higher and faster than any other rally on record. Hope it helps and good luck.

Close up with Heikin Ashi


Fib levels used for waves.

13 mag 2021

Nota

Maybe