SPY & Elliot Wave Theory
SPY: Using Elliot Wave Theory, predicting a move to 4.30 seems likely.
~RSI has room to go to 430, so it is not out of the question of possibility
~The VI looked like it was about to switch momentum to bullish, but the red line is starting to curve back upwards giving the question is it really a reversal to bullish yet?
~Using Elliot Wave theory's 5 part wave we have completed the first 4 parts and are in need of the fifth. This theory predicts group mentality overall and is often times the case.
~Previous waves hint that this may be the last bearish wave before the tides turns bullish
~RSI has room to go to 430, so it is not out of the question of possibility
~The VI looked like it was about to switch momentum to bullish, but the red line is starting to curve back upwards giving the question is it really a reversal to bullish yet?
~Using Elliot Wave theory's 5 part wave we have completed the first 4 parts and are in need of the fifth. This theory predicts group mentality overall and is often times the case.
~Previous waves hint that this may be the last bearish wave before the tides turns bullish
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