This is what I have going for SPX. I still put that question up at the top. Was 1096.12 the top for P2?
Wave 5 is still divided into the Golden Section by wave 4. EWP states this guideline "is somewhat loose in that the exact point within wave 4 that effects the subdivision varies." (EWP pg 137)
There is a nice looking impulse off the top and a 1-2 structure so far. Wave 2/[b] retraced 61.8% of the pullback off the 1096.12 top.
Based on this structure, I think we go lower first thing Monday. Some are even talking about a gap down, that could be fitting for what appears to be a wave 3 setting up.
No comments:
Post a Comment