This 4 hour chart looks in detail at the EW count from Sept which if correct is Primary wave 4 forming a triangle correction.
Primary wave 5 circle is nearing completion and may already be complete? however my own hunch is that SPX will trace out
an ending diagonal as shown to top around 2788-2790 before xmas. When SPX closes below the 2016 trend line I think it will be safe
to assume a top is finally in, until then there may be more surprises awaiting!
Note the RSI strong divergence!
Good Luck
Primary wave 5 circle is nearing completion and may already be complete? however my own hunch is that SPX will trace out
an ending diagonal as shown to top around 2788-2790 before xmas. When SPX closes below the 2016 trend line I think it will be safe
to assume a top is finally in, until then there may be more surprises awaiting!
Note the RSI strong divergence!
Good Luck
Note
SPX has now closed below both long and short term trendlines on a large momentum divergence. Possible top may have occurred?Note
SPX still rising, obviously the 5 wave advance not complete yet. New chart offers potential wave pattern and target. Good LuckNote
The wavecount contihues to mature and this chart updates previous ideas. I still believe SPX is in the very kate stages of this bull market and the current throwover marks typical bull mania and herding. If correct one more down up shoukd occur before SPX takes a turn.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.