S&P500 got more complex than most expected

13 Agu 2019

On August 9 I posted that the S&P500 "could get more complex than one would think" because it had the potential to do a more whipsawing a,b,c for all of b/2: "BUT, price can still care out a more complex pattern (alt: a, b) before topping. So don't take this decline for granted just yet. It is even possible that today's decline is only a smaller wave-3 of wave-c of wave-2/b (alt: a)." Well, my suspicion got confirmed today and wave-c of preferably wave-2/b is now underway and can target as high SPX 2980s -if it wants to- over the next few days. Thus the alternate count is now the preferred count: that's how Elliott wave works! Over SPX3000 and we may start to look for new ATHs though!