Wave structure analysis of SP500 index on daily time frame

Aug 26

Day swing is bearish => Current is pullback.

The current price is in the Supply zone of the daily frame. So we can look for a selling opportunity if the CHoCH reversal signal is given on the time frame less than 15 minutes.

Aug 29

Note

Aug 29

Note

Price has broken down to the Swing strong bottom of the 4 hour time frame

Sep 4

Note

Sep 4

Note

Price drops and breaks through the Swing bottom of the 4-hour timeframe, thus the 4-hour timeframe turns bearish.

Sep 5

Note

Sep 5

Note

The price continued to fall and broke the low.

Sep 6

Note

Sep 6

Note

Sep 7

Note