WAVE 4 unfolding ?
It is wise to remain humble with Elliot Wave analysis, right up to the point where the market gives a clear signal to go long or short.
At the moment, I believe the S&P500 is carving out wave 4 in a FLAT correction.
Wave (A) developed in "abc" and wave (B) surpassed the 70%, making this a possible FLAT or a WXY.
Time will tell, but this sure looks like we could be close to a bottom when wave (C) reaches its end.
I rule in favor of LONG positions... but not yet...
At the moment, I believe the S&P500 is carving out wave 4 in a FLAT correction.
Wave (A) developed in "abc" and wave (B) surpassed the 70%, making this a possible FLAT or a WXY.
Time will tell, but this sure looks like we could be close to a bottom when wave (C) reaches its end.
I rule in favor of LONG positions... but not yet...
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