Scary SPX500 possibility!
As a newbie, I follow a handful of people (screened over months). One of the low profile ones is youtube.com/channel/UCGpNumFwJwCcSjDGF8zH8Xg. If I understand him correctly, the so called Trump rally is a wave B of an expanding flat. The logic is that the moves since then all seem to be in 3 waves, and from my interpretation could be a leading diagonal. [For what its worth: Green C = 1.618 x Green A, Blue iii = 1.618 x Blue i]
The idea was reinforced by a recent fractal tweeted by elroytrader (twitter.com/elroytrader/status/890292230254100481) who, to me, is THE best contributor on Seeking Alpha. However, do note that this is far from his preferred count.
While this forecasts a substantial drop, perhaps the indices could revert back to pre-election levels since the expectations of policy changes may be fading.
Would love comments from ElliottWave experts on how valid/probable this count is.
The idea was reinforced by a recent fractal tweeted by elroytrader (twitter.com/elroytrader/status/890292230254100481) who, to me, is THE best contributor on Seeking Alpha. However, do note that this is far from his preferred count.
While this forecasts a substantial drop, perhaps the indices could revert back to pre-election levels since the expectations of policy changes may be fading.
Would love comments from ElliottWave experts on how valid/probable this count is.
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