Update on SPY
Diupdate
Follow up from the 12/3/20 post (link below). Clearly previous post was early. I've redrawn the parallel channel that started in 2009 to include the entire expanding triangle labeled (3)-(4). The target box on the 2 hour chart is based on the fact that often there is a Fibonacci relationship between the 1st and 5th waves plus the channels. BUT all this can be wrong so wait for some price action to support that this is correct. (candlestick pattern, trendline break, previous low taken out).
Best to ya. Take care. Feedback always welcome.
Best to ya. Take care. Feedback always welcome.
Komentar
Komentar
After a long bullish rise the final 5 waves up are a overlapping 5 waves. So I would not be surprised to see one more jump up followed by decline. We'll seeKomentar
Another possibility is that the top is in. Here is an alternate possible count.
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