Rally has started but a brief pull-back is expected tomorrow before the rally continues.
I must add a concern of mine on the SPX based on EW analysis and that, on thursdya Oct 11 and Friday Oct 12 a 3 wave pattern have been made down and exceeded the previous low made on Oct 10. The only wave I see that fits this patterns are B waves. But what B wave is this of? A possibility that this was a be wave of the 2nd wave forming and the waves forming after that is made of 5 waves or another 3 waves. In this case we can label this expanded flat 2nd wave. If this is right then tomorrow would bring down the house. Could be fitting for that 1987 crash, so we will see.
We have different EW that is available to us:
Option 1 - ABC since Sept 14 (Entering a C wave down of C earliest tomorrow)
Option 2 - Failed 5th Oct 5th that failed to make a new high for SPX but Dow did manage to make new highs. Therefore we are now at 1-2 ( with 3 to come earliest tomorrow).
Option 3 - ABC Since Sept 14 is done and we are now heading higher with 1st wave of 5 done and 2nd wave to commence tomorrow. (the pattern that shows up tomorrow will be very telling either 3 waves or 5 waves.)
Option 4 - 4th wave just finished and we are making a final 5th wave of wave W1.
No comments:
Post a Comment