SPX Update
Had hoped for a bit more strength when it was close to the 40 day moving average. Missed my short entry point. Had been expecting another shot up but it doesn't appear to be playing out in this manner. I see excessive fear across the board.
The pattern however is playing out with a probable wave down. This would complete a wave 5 and in my book, would mark the end of a wave 2.
I am also thinking that the 40 month moving average will hold. This average has appeared to mark the bottoms of a number of waves 2 and 4. If we blow through that level, it will be back to the drawing board for me.
The pattern however is playing out with a probable wave down. This would complete a wave 5 and in my book, would mark the end of a wave 2.
I am also thinking that the 40 month moving average will hold. This average has appeared to mark the bottoms of a number of waves 2 and 4. If we blow through that level, it will be back to the drawing board for me.
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