In my initial mention and entry at the low I posted the Elliot ABC corrective pattern.
Then I remembered we live in the age of eternal stop hunting. Upon some further consideration, I suspect if my bear thesis is correct we'll likely see a new high first.
Probably the short being 6160.
The difference between the ABC and the bat D leg does not matter at this point. Both are strong buys to the retracement levels.
Just a heads up because the possible bat pattern changes the way we go about fading the rally (And I will be trying to fade a rally if it comes).
At things stand, I suspect 6160 is the destination for SPX.
All long stops are in profit now, just waiting to see if we can break up.
Then I remembered we live in the age of eternal stop hunting. Upon some further consideration, I suspect if my bear thesis is correct we'll likely see a new high first.
Probably the short being 6160.
The difference between the ABC and the bat D leg does not matter at this point. Both are strong buys to the retracement levels.
Just a heads up because the possible bat pattern changes the way we go about fading the rally (And I will be trying to fade a rally if it comes).
At things stand, I suspect 6160 is the destination for SPX.
All long stops are in profit now, just waiting to see if we can break up.
We may be inside of a crash event to 3000 in SPX.
Read the full case with backlog of historic analysis/forecasts here: holeyprofitnewsletter.substack.com/p/the-case-for-3000-in-spx
Read the full case with backlog of historic analysis/forecasts here: holeyprofitnewsletter.substack.com/p/the-case-for-3000-in-spx
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
We may be inside of a crash event to 3000 in SPX.
Read the full case with backlog of historic analysis/forecasts here: holeyprofitnewsletter.substack.com/p/the-case-for-3000-in-spx
Read the full case with backlog of historic analysis/forecasts here: holeyprofitnewsletter.substack.com/p/the-case-for-3000-in-spx
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.