akap

Elliott Analysis on SPY, 30min, ABC correction

AMEX:SPY   SPDR S&P 500
251 0 3
Starting from the largest trend to the smallest:

We are in wave 4 (of 5) in the uptrend.
We are in wave b (of c) in the corrective wave 4
We are in wave c (of c) in the corrective wave b
We are in wave 5 (of 5) in the impulse wave c

Rules: Wave 3 cannot be the smallest, this makes the yellow line the max point of wave 5.

Guidelines: In an A-B-C correction, wave C is 1x, .682x, or 1.86x wave 1 (blue).

Conclusion: The market will turn soon to the downside, with targets at on of either 250, 237, (maybe) 217.
DE Deutsch
EN English
EN English (UK)
EN English (IN)
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska