CBOEAlumus

Elliott Wave SPY Analysis- Short?

Singkat
AMEX:SPY   SPDR S&P 500 ETF TRUST
Since reaching new highs in Feb, SPY has been correcting, with primary or intermediate wave A)) down, wave B)) up, and now wave C)) down. I believe this C)) wave is not complete yet, and is subdividing into 5 waves, because the rally off the April lows, labeled intermediate 1), doesn't strike me as impulsive. So I'm labeling the April 18 swing high as intermediate 2).

I believe today's 5 wave downmove, labeled minor 1, is complete and I'm looking for minor 2 up on Monday. When that is completed we should have a strong down move. A move above the intermediate 2) high, 271.29, negates this scenario.
Penafian

Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.