Steve, I count 5 waves in your ascending diagonal you posted.
Does that imply a likely reversal ( maybe just to bottom of
diagonal?). I’m learning enough to be dangerous, but getting
better. Thanks for critique of my thinking.
mdgfain - there is NOT five 5 waves up (3 waves up to 3762
pullback and another push) - someone else posted a count below that
is not viable either (although the pattern is fine). Avoid
counts and focus on your triggers - corrective waves are very
difficult to map. I simply showed trendline resistance which
is where the SPX advance stalled and began to pullback.
SPX 30 View
Posted by steve on 24th of Oct 2022 at 12:41 pm
$SPX - Chart Link - SPX advance paused near trendline thus far
Steve, I count 5 waves
Posted by mdgfain on 24th of Oct 2022 at 01:17 pm
Steve, I count 5 waves in your ascending diagonal you posted. Does that imply a likely reversal ( maybe just to bottom of diagonal?). I’m learning enough to be dangerous, but getting better. Thanks for critique of my thinking.
mdgfain - there is NOT
Posted by steve on 24th of Oct 2022 at 01:22 pm
mdgfain - there is NOT five 5 waves up (3 waves up to 3762 pullback and another push) - someone else posted a count below that is not viable either (although the pattern is fine). Avoid counts and focus on your triggers - corrective waves are very difficult to map. I simply showed trendline resistance which is where the SPX advance stalled and began to pullback.
Thanks, Steve.
Posted by mdgfain on 24th of Oct 2022 at 01:34 pm
Thanks, Steve.