SPY - EW: Main Count | Finishing Wave C of Yellow Wave A

I have 3 counts i'm running currently on SPY. This is my main count. We are currently finishing off wave 5 (white lines). The shaded area near yellow A is the fib relationship of orange count which we are finishing off Orange wave C. The fib lines are minor fib relationship for the wave 5 (white).
I believe we will be rolling into a pullback into wave B next week with a potential to see 380.

I will post my alt counts if this count gets invalidated or structure no longer holds.

Good Luck Traders

Commentaire:

On the minor structure of this 5 wave move up in C. It looks like we touched the 38.2 extension at 413.01 by a .01 making SPY's high 413.02. Thinking this is finished or latest Monday 8/1/22 will finish minor wave 5. If, on Monday, we see some continuation looking for 413.01 (38.2%) | 414.53 (50%) | 416.04 (61.8%) before we starting rolling over, otherwise complete confirmation is break below 409.91 with support at 411.

Good Luck Traders

Commentaire:

This wave 5 structure is taking a little longer than i anticipated. We hit 415 and some change which was a solid wave 3 structure. Tomorrow sets in minor wave 4, down up down, then we move towards wave 5 minor. Think 410 can touch tomorrow for ending diagonal. Friday will be most telling, hopefully we start building upwards which will build nicely towards a Monday/Tuesday finish next week. That should set high degree wave A.

Good Luck traders

Commentaire:

I will be posting my alt count tomorrow for side by side comparison.