The S&P might emerge to the upside, above the gray horizontal dashed line.
But this view is contradicted by my understanding of the Elliott waves. It looks that the minuette WXY correction is complete and the price has to go down from 4214, the May 19th top. When the price reaches the 4111 level, at the triangle wave 4 micro, it can be a first confirmation to the short scenario. In such a case I expect the downward move to be very soon and very fast.
Be prepared and trade well,
D.
But this view is contradicted by my understanding of the Elliott waves. It looks that the minuette WXY correction is complete and the price has to go down from 4214, the May 19th top. When the price reaches the 4111 level, at the triangle wave 4 micro, it can be a first confirmation to the short scenario. In such a case I expect the downward move to be very soon and very fast.
Be prepared and trade well,
D.