nick.holland78

SPX500 - 1h

Panjang
FX:SPX500   Indeks S&P 500
3
While I'm still bullish on the indices, prices have reached minimum targets for the 3rd wave. As of Friday's close, I'm down to 10% long in my LT trading account. I've raised support to ~2030/1995. I intend to load back up in this support range, but should support fail then I'll be looking lower to the 1700s, or even high 1600s.
Shorting 4th waves is exceedingly difficult as they're the least predictable waves. I'm not sure if the expanding Ending Diagonal I've annotated is complete with wave iv underway, or if wave iii will see another high later this week into the target box.
The purple count, which leads to an alt (4), is least likely imo.
Penafian

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