EuroMotif

SPX bounced as expected: S&P500 retrace watch

EuroMotif Mod Cập nhật   
FOREXCOM:SPX500   Chỉ số S&P 500
This is an update to my ongoing analysis of the S&P 500 index outlined below.

I was last expecting a bounce, and wow we got one heck of a bounce allright.
The move resembles a classic wave 3, which I think is near complete.
So now we should see a wave 4 pullback and then a wave 5 to complete the bounce.

After this 5 wave bounce, I think we will consolidate for a while and then take another dip.

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Background:

My SPX journey started in early October 2018, when the first dip hinted at a move to 2500 per this plan
As it was dropping, I did see some opportunities to long such as this plan:
Once the above plan played out and hit target, I was pretty sure it would fall again
And as it fell and fell, I saw a bounce coming:
So now I am measuring the bounce, and expecting it to fade at some point
Bình luận:
Well the lower retracement played out perfectly looks like it wants to go higher, but I doubt it will get much more buying before another dip. But lets see, I am holding some longs overnight.
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Bình luận:
Further thoughts on the price action with notes on the chart I missed an important band made up of a 3.618 and 2.618. But the rest of the bands certainly proved there presence.
Bình luận:
Check out the EXACT tests of the fib boundaries. admittedly that mostly Asian session price action on futures, but this happens in all assets during all levels of volatility

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