Updated

SPX's daily's Elliott wave Probabilities, if we are correcting

***101 Elliott wave Guide.*** Elliott wave is
like a stretch jeans, one size for all probabilities
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Wave 2: Common retracement levels
61.8%-78.6% of wave 1 (golden zone, most common)
May also be 23.6%, 38.2%, or 50%

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Keep this handy we might need it.

wish you all safe & profitable trading.

Note

Almost half way through satisfying 2ed wave retracements with .23 Fibs of 1-5 waves

@ 3540, i still think no catalyst to go there and stimulus is almost approved we shall

see on Monday what happen. Either way 249 points shy of our Minimum wave 2

target we can do it 2-3 days like piece of cake.

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Still no obvious catalyst to drag the SPX down, but we have Technical supporting this like RSI divergence on daily and weekly with quite acceptable success rate and an Elliott wave count suggesting this pullback. But, nothing of big magnitude. Never the less this market is different goes up/down with no reasons just M2 running the show.

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3540 is a minimum requirement for wave 2 to be accepted, to then start wave 3. 200 points to go to achieve that.

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Every time i try re-counting i end up reaching that we have already completed

5 waves structure and we are
1/ @ the beginning of a correction

2/ We are still in wave 3 which i have no prove of so far and one can suggests that without new highs !!!

welcome to the financial market.

wish you the best.

Note

Well, breaking 3950.4 will basically invalidate this count. 3950.4 is 1.61 Fibs of wave

one going beyond it we need to recount the whole wave since March's low.

samitrading

I do more in depth studies of stocks on my twitter account. Hope you would enjoy it there as you are enjoying it here.

****** Past performance is no guarantee of future results***

twitter.com/samitrading1

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samitrading

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