Hello traders!
As per previous posts on the SPX, we were tracking a corrective primary wave (B) to the upside developing from the October low. The price action looks like a corrective double zig zag and is reaching a significant resistance area after its completion, forming a bearish wolfe wave as showed in the chart. If the contractive monetary cycle requires a bigger correction, this is the area where we the setups are going to appear.
We will closely look for a short entry after WW activation and retracement.
We will update here!
Bests,
GMR
As per previous posts on the SPX, we were tracking a corrective primary wave (B) to the upside developing from the October low. The price action looks like a corrective double zig zag and is reaching a significant resistance area after its completion, forming a bearish wolfe wave as showed in the chart. If the contractive monetary cycle requires a bigger correction, this is the area where we the setups are going to appear.
We will closely look for a short entry after WW activation and retracement.
We will update here!
Bests,
GMR
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