During the last three days, SPX (15') finished a "Minuette"-wave 4. "Minuette"-wave 3 has been more than 2.62 of the first wave (Extension3). The rules predict, that a wave "5" often equals wave "1", if wave "3" is extended. In this case the target (T1) would be 2403.
A 2nd scenario could be, that the SPX is still in a "Extended Flat"-pattern. So, "Minor"-wave 4 (brown) would be a "Minute"-wave a and the whole actual wave would be a "Minute"-wave b (Corrective ABC pattern, ZigZag). If this would be the case, the second target (T2) at 2427 would be the target for this wave "b" and the counting would be different. The following and final wave "c" would retrace 1.618 and this would fit with the 0.382 (2280-2304) of the whole correction-pattern.
BUT (!): The last leg ("Minute"-wave c of "Minor"-wave 4) of the pattern shown above, has been an "Ending Diagonal", which indicates that the correction should be over...
A 2nd scenario could be, that the SPX is still in a "Extended Flat"-pattern. So, "Minor"-wave 4 (brown) would be a "Minute"-wave a and the whole actual wave would be a "Minute"-wave b (Corrective ABC pattern, ZigZag). If this would be the case, the second target (T2) at 2427 would be the target for this wave "b" and the counting would be different. The following and final wave "c" would retrace 1.618 and this would fit with the 0.382 (2280-2304) of the whole correction-pattern.
BUT (!): The last leg ("Minute"-wave c of "Minor"-wave 4) of the pattern shown above, has been an "Ending Diagonal", which indicates that the correction should be over...
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Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.