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Have we JUST seen a confirmation for the 5th wave today at SP500?
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Have we JUST seen a confirmation for the 5th wave today at SP500?

  #1 (permalink)
Elite Member
Montreal,Quebec/Canada
 
Futures Experience: Intermediate
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Posts: 17 since Jun 2014
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Have we JUST seen a confirmation for the 5th wave today at SP500?

Many analyst were expecting an SP500 level of up to 2035. Seems it may have just fell short at 2011. Today’s piercing of 1990 levels may be taken as a confirmation that the 5th wave has been over. Or else? Anyhow, if it is true, then buckle up because it may be a sharp slide down, as the Elliott count completes 3 timeframe 5 wave count as well. Besides we can see a Head and Shoulder pattern, which indicates bearish mood. But again, you’ll never know. It can jump back up from here and go back all the way to 2035. I just wanted to share some observation.

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  #3 (permalink)
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  #4 (permalink)
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BMMA14 View Post
Many analyst were expecting an SP500 level of up to 2035. Seems it may have just fell short at 2011. Today’s piercing of 1990 levels may be taken as a confirmation that the 5th wave has been over. Or else? Anyhow, if it is true, then buckle up because it may be a sharp slide down, as the Elliott count completes 3 timeframe 5 wave count as well. Besides we can see a Head and Shoulder pattern, which indicates bearish mood. But again, you’ll never know. It can jump back up from here and go back all the way to 2035. I just wanted to share some observation.

There is already an active discussion on the Spoo's here:

https://futures.io/index-futures-trading/13452-es-s-p-500-futures-contract-sp500-spoo-nalysis.html

If you want this thread to be solely about Elliot Wave on the SP500 then you should select a more appropriate thread title that has staying power (long term). Otherwise this thread would be considered a duplicate and would be closed to prevent a split topic discussion.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

 
  #5 (permalink)
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Big Mike View Post
There is already an active discussion on the Spoo's here:

https://futures.io/index-futures-trading/13452-es-s-p-500-futures-contract-sp500-spoo-nalysis.html

If you want this thread to be solely about Elliot Wave on the SP500 then you should select a more appropriate thread title that has staying power (long term). Otherwise this thread would be considered a duplicate and would be closed to prevent a split topic discussion.

Mike

Allright. That't fine. I don't plan to have a thread for elliot wave on sp. It was just a one shot post. Next time, if I have comments regarding SP, I'll go to the thread you have indicated/rgds


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