This move up is looking impulsive to me, like 5 of 3 is completing as we speak.
Now this could be wave A that unfolded as a zigzag (so my "3rd" wave was actually the "c" wave of the zigzag that makes up wave A) or we could see wave A unfold as an impulsive wave which means we'd need a 4th wave here and then a final wave up to complete it.
Seems like odds would favor wave A playing out as a zigzag because that would imply that it's almost done here and we're very close to 50 percent retracement now.
Wave A as a zigzag implies that the entire correction will unfold as a flat which would work out well. Wave C would probably top out near the 62 percent retracement area.
.bmp)
This move up is looking impulsive to me, like 5 of 3 is completing as we speak.
ReplyDeleteNow this could be wave A that unfolded as a zigzag (so my "3rd" wave was actually the "c" wave of the zigzag that makes up wave A) or we could see wave A unfold as an impulsive wave which means we'd need a 4th wave here and then a final wave up to complete it.
Seems like odds would favor wave A playing out as a zigzag because that would imply that it's almost done here and we're very close to 50 percent retracement now.
Wave A as a zigzag implies that the entire correction will unfold as a flat which would work out well. Wave C would probably top out near the 62 percent retracement area.
pima,
ReplyDeleteI count 5 up complete with a long 3rd wave. I am posting the SPX now.
Steve
ReplyDeleteWell I’m inexperienced at this but I see the 4th of 5 completed down.
Jack C