Spx500

Jun 4, 2022

Refer to my Nasdaq post for a comprehensive deep dive into what this structure is, and how you can decipher it using the simple guidelines (if that's something that interests you).

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to keep things simple;
i'm expecting some kind of B wave to play out in the days ahead.
it can take the shape of quite a few different patterns.

could be a triangle:


a flat:


or a simple zig-zag:


let the market show you what it wants, then simply adapt to the changes.

👇

>after this local b-wave is completed, a move up to $4300 is anticipated.
>there is a significant call wall up there, so it likely won't go much higher than that zone (+\-5)

👇

>Once the local move up is completed
>a decline to $3500ish is expected
>leading into september (where i think this correction will be completed).

Jun 6, 2022

Note

same as nq, i think we see 1 more leg up before it drops into the b wave.