CBOEAlumus

Elliott Wave SPY Analysis- Short?

Short
AMEX:SPY   SPDR S&P 500 ETF TRUST
Since reaching new highs in Feb, SPY has been correcting, with primary or intermediate wave A)) down, wave B)) up, and now wave C)) down. I believe this C)) wave is not complete yet, and is subdividing into 5 waves, because the rally off the April lows, labeled intermediate 1), doesn't strike me as impulsive. So I'm labeling the April 18 swing high as intermediate 2).

I believe today's 5 wave downmove, labeled minor 1, is complete and I'm looking for minor 2 up on Monday. When that is completed we should have a strong down move. A move above the intermediate 2) high, 271.29, negates this scenario.
Clause de non-responsabilité

Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.