SPX bounced as expected, but now "to B or not to B?"

Update to my previous plot Asking if Topped (click).

After the virus dip, we got a bounce as expected.
Now that bounce wave is at a crucial decision point.
Thus far it looks more "corrective" than "impulsive".

The dip itself was two strong waves, posted in this Idea.
We saw a parabolic 1st wave, and a linear 2nd wave.
IF we are to have a 3rd, HERE would be a good start.

See some of my Previous Calls below:
Jun 2019 Bottom <= Bottom within $1
May 2019 Top
Nov 2018 2nd Top
Oct 2018 1st Top <= Just in Time warning

Komentar:

Proceeding as planned.

So far the C wave is progressing EXACTLY as plotted

Big of a relief bounce just now, but up against previous support.

.

Zoomed IN (5 min) for a closer look

Right up against the lower bound of previous support.
NOW is the crucial moment:
- either get above this zone and flip back to support,
- or this zone will become serious resistance if rejected from here.

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Komentar:

Wow


So my timing was off a bit but the Fib never lie

Look where we peaked

.

Statistics 101: "the Larger the Sample size the Tighter the Fit"

And one can not ask for a "more Tight Fit" than that.

.

Zoom IN (8 min) and add if a Fib to the last leg down:

Not too hard to imagine where it might end up... (8.236)

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Komentar:

Target hit EXACTLY

near end of Friday US session.

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Komentar:

New Week Open

So here we are after a PREFECT abc and bounce

right back into a decision zone.

This is where we find out if this abc is really an "abcDE" or if that was it for the correction.

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