The S&P 500 Elliott wave structure remains bullish. Either the trend continues straight on towards a new all-time high or we might see some more sideways extension before resolving to the upside. Both scenarios appear equally likely at this stage. A trend following strategy inside the yellow trend channel looks like an attractive risk/reward from our perspective. A downside break of 2,700 or the yellow trend channel shifts odds towards the red scenario.
The clue is here that the wave pattern does not show a 5 wave structure to the upside yet. Hence it probably extends up even if the red scenario plays out. That means that we may get out even in this trade if we are wrong. All in all, a nice setup.
Targets and s/l within the green/red trade box
The clue is here that the wave pattern does not show a 5 wave structure to the upside yet. Hence it probably extends up even if the red scenario plays out. That means that we may get out even in this trade if we are wrong. All in all, a nice setup.
Targets and s/l within the green/red trade box
Nota
If you've followed our updates on our website you'll probably know that we think the SPX is not done to the upside yet.We'll let wave structure develop further until giving a sell signal here.
Nota
Trail the S/L to the point of entryTrade chiuso manualmente
Exiting now. Risks on downside dominate currently.Nota
+0.5%
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.