1/28/2021 - EOD Update

Looks like things are going as planned. Since the last post, I speculated that wave b may bounce and test the underside of the ending diagonal. It did that today and was rejected. Will assume wave c down of 2 is underway. 

SPX - Daily

SPX - 60 Min

1/27/2021 - EOD Update

 Looks like the ending diagonal played out as I was suspecting. So far the break down from the ED looks like five little subwaves for wave a of 2. So I expect a wave b bounce may test the underside of the ending diagonal before a wave c down to complete wave 2. 

Some targets for wave 2:

1. The 50 day SMA near 3700

2. The 3600-3700 zone testing the breakout area during the Thanksgiving week.

SPX - Daily

Here is the close up of the ED and the mini five subwaves for wave a of 2. 

SPX - 60 Min

1/22/2021 - EOD Update

HNY all. I cleaned up the degree labeling a bit. Looks like there could be an ending diagonal forming to wrap up wave 1 of (3). 

SPX - Daily

12/31/2020 - EOD Update

Good riddance 2020.

Not much to add since my last post. I had a wave 3 in the works and so far that still seems to be playing out. My degrees may be off a bit but too lazy to relabel it. I think wave 1 of (3) is playing out here. So only three waves for 1 of (3) at this point. We'll see, it appears really bullish but that is the count at the moment.

SPX Daily

And a look at the long term monthly chart to cap the year end. 

SPX Monthly

Hope everyone has a safe and Happy New Year!