SPX500 continues to subdivide almost exactly as planned, though I had to relabel wave (1-2-3-4-5) and I missed on my scalp shorts yesterday.
It is likely that we will get stuck for the next couple of days in a sideways movement with a brief rally to complete the wave c by the end of the week. Another possible scenario - will get stuck until the end of the week and the market will rally in 5th wave (circled) only when Powell speaks and then reverses next week. Whatever the case I will be looking to build my shorts when wave c is complete.
The pink scenario is eliminated by this stage, though Elliottwave.com still has it as a base case.
It is likely that we will get stuck for the next couple of days in a sideways movement with a brief rally to complete the wave c by the end of the week. Another possible scenario - will get stuck until the end of the week and the market will rally in 5th wave (circled) only when Powell speaks and then reverses next week. Whatever the case I will be looking to build my shorts when wave c is complete.
The pink scenario is eliminated by this stage, though Elliottwave.com still has it as a base case.
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🌏 energeiacharta.com
⏱️ Timely updates of WTI, Gasoil, NatGas charts explaining every twist
🗃️ Extensive analysis archives
📏 Chartopedia, with examples of applying ElliottWave to real world charts
