$SPX - Chart Link- we had that perfect 3 wave
move up - the bearish view would be a completed ABC. That said, I
have not favored that and price would have to dump from here
immediately.
the other option I've been favoring is that 3 wave up move was
abc of A, with the deep pullback higher low wave B, and now we go
up in wave C to the 61.8% Fib or higher
the super bullish count in green would have the first move up in
a nested 1/2, 1/2, and we'd go up in a wave 3 and go to new
highs
Posted by DigiNomad on 2nd of May 2024 at 06:17 pm
These posts probably confuse some people. I personally was still
considering that it could be a wave 4 of 5 of some sort (which
appears more plausible now)
We had a perfect 1:1 abc move up and and the S&P 500
fell
110 pointsfrom 5123 to 5011 and was a great
short- as did most instruments - that played out. So that
statement was correct, after an abc or 1:1 move we get a deep
retracement - I don't know what is confusing about that. We warned
to be on a lookout after that abc move and a 110 point move down on
the S&P 500 is pretty large
I Never said or confirmed that the ABC high at 5123 was the high
and that we were going to a new lows - if this is a larger wave 4,
it should take a few months to play out, not go down and make a new
low and be over so quickly - the last wave 4 in the fall last 3
months - this correction has only been about 1 month long. Time
symmetry
I was more favoring that move up to 5123 as abc of A, and a deep
B retracement
but a higher low(not a new low), then another C up. The
bullish view is that we just go back to the highs.
again -this is why we don't like to put these counts out often
because guys take them and hold you accountable, even if they don't
understand it or interpreted it correctly.
focus and know your levels (demand/support and supply/resistance
zones and triggers
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Posted by matt on 2nd of May 2024 at 05:55 pm
$SPX - Chart Link- we had that perfect 3 wave move up - the bearish view would be a completed ABC. That said, I have not favored that and price would have to dump from here immediately.
the other option I've been favoring is that 3 wave up move was abc of A, with the deep pullback higher low wave B, and now we go up in wave C to the 61.8% Fib or higher
the super bullish count in green would have the first move up in a nested 1/2, 1/2, and we'd go up in a wave 3 and go to new highs
These posts probably confuse some
Posted by DigiNomad on 2nd of May 2024 at 06:17 pm
These posts probably confuse some people. I personally was still considering that it could be a wave 4 of 5 of some sort (which appears more plausible now)
We had a perfect 1:1
Posted by matt on 2nd of May 2024 at 06:46 pm
We had a perfect 1:1 abc move up and and the S&P 500 fell 110 pointsfrom 5123 to 5011 and was a great short- as did most instruments - that played out. So that statement was correct, after an abc or 1:1 move we get a deep retracement - I don't know what is confusing about that. We warned to be on a lookout after that abc move and a 110 point move down on the S&P 500 is pretty large
I Never said or confirmed that the ABC high at 5123 was the high and that we were going to a new lows - if this is a larger wave 4, it should take a few months to play out, not go down and make a new low and be over so quickly - the last wave 4 in the fall last 3 months - this correction has only been about 1 month long. Time symmetry
I was more favoring that move up to 5123 as abc of A, and a deep B retracement but a higher low(not a new low), then another C up. The bullish view is that we just go back to the highs.
again -this is why we don't like to put these counts out often because guys take them and hold you accountable, even if they don't understand it or interpreted it correctly.
focus and know your levels (demand/support and supply/resistance zones and triggers