SPX SPY Confirmed Entering Wave Three Down (Edited Repost)

May 6, 2020

Wanted to add my wave count for the rally we saw from 3/23 lows. We have formed a large ABC zigzag down from the ATH's in Feb, down to the 3/23 lows, then up to the 297 level (A and B). We are now entering wave C down, which can be broken up into subwaves.

Inside of the large ABC zigzag's wave C, this wave three should take us to 258 levels according to the length of wave one from out recent high at 297 to the 279 range.

There may be some support speedbumps along the way, 285, 279, 272, but 258 is the target according to basic elliot wave analysis and it has been extremely accurate lately.

Entered shorts during wave two up, and finalized my positions at 289.5.

We deviated from the waveform last night, so we could see a near straight down drop here today as correction.

Good luck all!!!

May 6, 2020

Trade active

Straight down drop as predicted. Expecting big gap down tomorrow. Puts pay folks

May 7, 2020

Trade active

Big fakeout move here, extremely similar of the March 3-4 beginning of wave three down. Hindsight it would have been a great swing but have tp hold on a bit longer here guys. Roll your puts to a later date if you have to at EOD today so you can sleep, but not until we recoup with a drop here today since you already paid the theta burn.

Jun 2, 2020

Note

Inching towards the .786 correction level, a downward trend did not form. If we hit and surpass that then this short train is over. Would be smart to be patient and wait until a strong downward trend has formed or we hit the .786 fib level at around 3136 to make any long term predictions.