This past week saw a continuation of the initial upswing in Q4.
Chart 1 -
Potential target areas are 4200 and 4500 if this upswing is only partially correcting the 2022 decline, as a leg of an expanded flat or a bearish triangle.
New high if this upswing is the start of wave five up.
Chart 2 -
Index is still inside the down channel.
Chart 3 -
Short term, tracking 3 counts (coloured)
CHART 2 - SPX 2015 to current.
ReplyDeleteYour Blue 1 has to explain why the following 2019 correction (making a A wave down theoretically) has a-b-c rather than a lesser deg 5 down, and why the 2019-20 rally has 5 waves and is disproportionately long in time when it should have a-b-c and be shorter in time. Then why the 2020-21 slow rally doesnt have a clear looking 5 and is very short in time to be a Blue wave 3.
Jan 2018 top would end a impulse wave from 2009, then you should be able to figure out the rest.