S&P500

16 בספט׳ 2023

Here we go again, another neutral long term or long timeframe analysis. I think this is how this is playing by Elliot Wave Principle, we currently unfolding wave "c" which is the leg 4 of the bigger impulsive wave. This then gives us the reason to sell as seen on the chart, then I think it will get to leg 4 and go up to 5 in one take since wave 3 is already a pregnant leg with its impulsive waves complete neatly. The S&P500 has these weird compressions so we need to keep watch if trading these setups, the buy is also attracted by the QML on those blue highlighted sell zones.