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modernpicasso

SPX: Closer Look At A Potential Correction To 2300-2450 Zone

Short
S&P 500 Index (SP:SPX)  
modernpicasso  
SP:SPX   S&P 500 Index
Trend Analysis Technical Indicators Wave Analysis S&P 500 (SPX500) SPX (S&P 500 Index) Stocks stocktrading elliotwaveanalysis
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trendanalysis indicator waveanalysis spx500 spx stocks stocktrading elliotwaveanalysis
Observations
  • We are still in a 4th wave correction phase which is currently on track as per my earlier analysis.
  • Chart indicates that we have entered the C wave of the ABC correction.
  • Potential short position strategy would be to let the Wave 1 and 2 structure form.
  • Enter short on breakdown of Wave 3 with significant volume past Wave 1 support line.
  • Note: Any future projections at a larger scale shown here will not accurately indicate when those waves will end or commence. Charts always need to be updated as we get more data from the market.

Disclaimer
For informational purposes only and not deemed as financial advice

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