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S&P 500 Elliot WAVE analysis update 13-07-2020
with the current sell of the previous scenario is invalidated.
previously I was thinking that the current impulsive wave is the 3rd wave.
the drop has invalidated this case as wave 4 has broken the wave 1 level so we have to rename the wave.
I still don't see a bearish scenario so the only possibility is that we are the wave 2 of a 1-2-1-2 structure
the possible termination points for the current sell of is marked with arrows.
previously I was thinking that the current impulsive wave is the 3rd wave.
the drop has invalidated this case as wave 4 has broken the wave 1 level so we have to rename the wave.
I still don't see a bearish scenario so the only possibility is that we are the wave 2 of a 1-2-1-2 structure
the possible termination points for the current sell of is marked with arrows.
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