Pretty clear waves can be seen here. I've had SPY $200 6/30 for a few weeks and it's pretty easy to not sell with such a clear picture seen.
I don't believe the first red downtrend will hold for wave 4, wave 4 seems more likely to take a couple weeks and test the second downtrend line. For this reason I would take wave 4 location with a grain of salt.
That said, I believe the wave 5 should easily hit the area indicated.
I don't believe the first red downtrend will hold for wave 4, wave 4 seems more likely to take a couple weeks and test the second downtrend line. For this reason I would take wave 4 location with a grain of salt.
That said, I believe the wave 5 should easily hit the area indicated.
Nota
Wave 3 went for another run down to the 2.272 and now appears to be forming wave 4 - this is being fueled by the optimism of the fed "bailout everyone" play. Once that news passes and the bad news stacks up.. wave 5 is gonna drill hard.Nota
Entering historic support zone, appears to be acting as resistance now
Nota
"Wave four is typically clearly corrective. Prices may meander sideways for an extended period, and wave four typically retraces less than 38.2% of wave three"
Check, check, and check.
"Volume is well below than that of wave three."
Check.
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.
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.