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wolfah

SPX Extended V Bottom?

Long
S&P 500 Index (SP:SPX)  
wolfah Updated   
SP:SPX   S&P 500 Index
Trend Analysis Chart Patterns Wave Analysis
6
2
trendanalysis chartpattern waveanalysis
SPX prob. in a "Extended V Bottom", where the following wave c (grey) equals wave a (grey), just to finish larger wave b (red).
Target 1: for b (red)= 2800,
Target 2: for b (red)= 2900 (Flat-pattern)
Keep in mind, that the daily volume, so far, does not follow the trend! There is yet another downswing to come...
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Same pattern as DJI, btw...
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IMPORTANT NOTE for the magenta ABC counts in wave a (grey): This could also be an impulse wave (most probably in NASDAQ)!
BTW, the angle of the "extension" of the V Bottom equals 30 degrees...
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15min chart: "Descending Triangle"?
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