$SPX - Chart Link- once this wave 5 completes,
we should get a higher degree bounce/rally, last longer than 2
days.
with 5 waves down, the bearish view would have the next rally
that forms a lower high unfold in an abc 3 wave structure
as a wave 2 with this move down being wave 1 - and would be one
hell of a shorting opportunity as you would start wave 3 down
to new lows
Posted by fredsaid on 22nd of Dec 2022 at 02:33 pm
Sorry had taken a nap. 2nd entry on CCI - Hope it holds -
All aboard ! I'm thinking 379.79 should be a good closing
level followed by a rip your face off rally tomorrow. Closed
Monday right ?
again it's real simple: if that wave 4 completed then I would
expect prices to take out recent lows and fill that gap for wave 5.
wave 4 may also not be complete and this could be a wave b of 4
that forms a higher low then goes up one more time. That said
however the wave 4 time length of 2 days fits in line with that
previous wave 2, so to me the onus is on the bulls here, otherwise
that looks more complete
SPX 15 min
Posted by matt on 22nd of Dec 2022 at 09:27 am
$SPX - Chart Link- price will open just above that horizontal line I added. Over the last couple days I discussed that move as possible 4th wave
Update: SPX 15 min
Posted by matt on 22nd of Dec 2022 at 01:00 pm
$SPX - Chart Link- once this wave 5 completes, we should get a higher degree bounce/rally, last longer than 2 days.
with 5 waves down, the bearish view would have the next rally that forms a lower high unfold in an abc 3 wave structure as a wave 2 with this move down being wave 1 - and would be one hell of a shorting opportunity as you would start wave 3 down to new lows
Matt, do you think the
Posted by racerick on 22nd of Dec 2022 at 01:11 pm
Matt, do you think the Gap fill will be bottom of waqve 5 or we just wait for up trend?
it's filled
Posted by matt on 22nd of Dec 2022 at 01:15 pm
it's filled
Thanks Matt, I look forward
Posted by fundamentalvalues on 22nd of Dec 2022 at 01:06 pm
Thanks Matt, I look forward to seeing what the systems say as things unfold.
the ones that were not
Posted by matt on 22nd of Dec 2022 at 01:07 pm
the ones that were not able to exit yesterday will exit on the next rally after we put in this wave 5 low
otherwise yesterday would have been nice to officially lock in 1/2 of the Strap as I wrote, maybe a few did it on their own hopefully
otherwise today the CCI on SPY is looking to take a 2nd entry
I finally got everything opened
Posted by matt on 22nd of Dec 2022 at 01:17 pm
I finally got everything opened back up on Tradestation - had crashed earlier, unsurprisingly
the only trade I see at this time is a 2nd entry on CCI
Sorry had taken a nap.
Posted by fredsaid on 22nd of Dec 2022 at 02:33 pm
Sorry had taken a nap. 2nd entry on CCI - Hope it holds - All aboard ! I'm thinking 379.79 should be a good closing level followed by a rip your face off rally tomorrow. Closed Monday right ?
Matt, hate to ask, but
Posted by mdgfain on 22nd of Dec 2022 at 09:42 am
Matt, hate to ask, but fill the the gap at about 3830 or the last big gap at 3770? Thanks.
again it's real simple: if
Posted by matt on 22nd of Dec 2022 at 09:50 am
again it's real simple: if that wave 4 completed then I would expect prices to take out recent lows and fill that gap for wave 5. wave 4 may also not be complete and this could be a wave b of 4 that forms a higher low then goes up one more time. That said however the wave 4 time length of 2 days fits in line with that previous wave 2, so to me the onus is on the bulls here, otherwise that looks more complete
Update: SPX 15 min
Posted by matt on 22nd of Dec 2022 at 09:32 am
$SPX - Chart Link-