SPY Likely to Extend Correction in Double Three Structure

Elliottwave_Forecast

SPY Likely to Extend Correction in Double Three Structure

August 22, 2023 By EWFHendra

Short Term Elliott Wave view in S&P 500 ETF (SPY) suggests the decline from 7.27.2023 high is in progress as a double three Elliott Wave structure. Down from 7.27.2023 high, wave ((a)) ended at 444.96 and rally in wave ((b)) ended at 451.7. The ETF then extended lower in wave ((c)). Down from wave ((b)), wave (i) ended at 443.35 and rally in wave (ii) ended at 448.92. The ETF extended lower again in wave (iii) towards 433.93 and wave (iv) rally ended at 436.77. Final leg wave (v) lower ended at 433.05 which completed wave ((c)) of W.

Wave X rally is now in progress to correct cycle from 7.27.2023 high before the next leg lower. Up from wave W, wave i ended at 436.55 and wave ii ended at 434.38. Wave iii ended at 438.89, wave iv ended at 435.32, and wave v ended at 440.11 which completed wave (i). Expect wave (ii) pullback to correct cycle from 8.18.2023 low before it turns higher again. Near term, as far as pivot at 433.05 low stays intact, the ETF can see further upside to correct cycle from 7.27.2023 high before it turns lower again.

S&P 500 ETF (SPY) 60 Minutes Elliott Wave Chart

S&P 500 ETF (SPY) 60 Minutes Elliott Wave Chart

SPY Elliott Wave Video

Source:https://elliottwave-forecast.com/news/spy-extends-correciton-in-double-three/

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

Valhptan
2023-08-24
Valhptan
Great ariticle, would you like to share it?
aditkkr094
2023-08-24
aditkkr094
Great ariticle, would you like to share it?
SH888
2023-08-24
SH888
Long term Should be a good counter
wendytan
2023-08-24
wendytan
k
Ealmighty
2023-08-23
Ealmighty
Wow
Ealmighty
2023-08-23
Ealmighty
Wow

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Down from 7.27.2023 high, wave ((a)) ended at 444.96 and rally in wave ((b)) ended at 451.7. The ETF then extended lower in wave ((c)). Down from wave ((b)), wave (i) ended at 443.35 and rally in wave (ii) ended at 448.92. The ETF extended lower again in wave (iii) towards 433.93 and wave (iv) rally ended at 436.77. Final leg wave (v) lower ended at 433.05 which completed wave ((c)) of W.</p>\n<p style=\"text-align: justify;\">Wave X rally is now in progress to correct cycle from 7.27.2023 high before the next leg lower. Up from wave W, wave i ended at 436.55 and wave ii ended at 434.38. Wave iii ended at 438.89, wave iv ended at 435.32, and wave v ended at 440.11 which completed wave (i). Expect wave (ii) pullback to correct cycle from 8.18.2023 low before it turns higher again. Near term, as far as pivot at 433.05 low stays intact, the ETF can see further upside to correct cycle from 7.27.2023 high before it turns lower again.</p>\n<h2>S&amp;P 500 ETF (SPY) 60 Minutes Elliott Wave Chart</h2>\n<h2></h2>\n<p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/abe7b77c2d1553f5ae6f517a3907dd09\" tg-width=\"1881\" tg-height=\"933\"><span>S&amp;P 500 ETF (SPY) 60 Minutes Elliott Wave Chart</span></p>\n<h2>SPY Elliott Wave Video</h2>\n<p></p>\n<video poster=\"https://community-static.tradeup.com/news/4735e28c31b9d705ebe74c1db27a52d1\" tg-width=\"1920\" tg-height=\"1034\" class=\"ql-video\" controls=\"true\" controlslist=\"nodownload\" playsinline=\"true\" webkit-playsinline=\"true\">\n <source src=\"https://1254107296.vod2.myqcloud.com/b741d586vodhk1254107296/73f287e35576678020033117089/AAqrfucxBbAA.mp4\">\n</video>\n<p>Source:https://elliottwave-forecast.com/news/spy-extends-correciton-in-double-three/</p></body></html>","htmlText":"<html><head></head><body><h2>SPY Likely to Extend Correction in Double Three Structure</h2>\n<p>August 22, 2023 By EWFHendra</p>\n<p style=\"text-align: justify;\">Short Term Elliott Wave view in S&amp;P 500 ETF (SPY) suggests the decline from 7.27.2023 high is in progress as a double three Elliott Wave structure. Down from 7.27.2023 high, wave ((a)) ended at 444.96 and rally in wave ((b)) ended at 451.7. The ETF then extended lower in wave ((c)). Down from wave ((b)), wave (i) ended at 443.35 and rally in wave (ii) ended at 448.92. The ETF extended lower again in wave (iii) towards 433.93 and wave (iv) rally ended at 436.77. Final leg wave (v) lower ended at 433.05 which completed wave ((c)) of W.</p>\n<p style=\"text-align: justify;\">Wave X rally is now in progress to correct cycle from 7.27.2023 high before the next leg lower. Up from wave W, wave i ended at 436.55 and wave ii ended at 434.38. Wave iii ended at 438.89, wave iv ended at 435.32, and wave v ended at 440.11 which completed wave (i). Expect wave (ii) pullback to correct cycle from 8.18.2023 low before it turns higher again. Near term, as far as pivot at 433.05 low stays intact, the ETF can see further upside to correct cycle from 7.27.2023 high before it turns lower again.</p>\n<h2>S&amp;P 500 ETF (SPY) 60 Minutes Elliott Wave Chart</h2>\n<h2></h2>\n<p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/abe7b77c2d1553f5ae6f517a3907dd09\" tg-width=\"1881\" tg-height=\"933\"><span>S&amp;P 500 ETF (SPY) 60 Minutes Elliott Wave Chart</span></p>\n<h2>SPY Elliott Wave Video</h2>\n<p></p>\n<video poster=\"https://community-static.tradeup.com/news/4735e28c31b9d705ebe74c1db27a52d1\" tg-width=\"1920\" tg-height=\"1034\" class=\"ql-video\" controls=\"true\" controlslist=\"nodownload\" playsinline=\"true\" webkit-playsinline=\"true\">\n <source src=\"https://1254107296.vod2.myqcloud.com/b741d586vodhk1254107296/73f287e35576678020033117089/AAqrfucxBbAA.mp4\">\n</video>\n<p>Source:https://elliottwave-forecast.com/news/spy-extends-correciton-in-double-three/</p></body></html>","text":"SPY Likely to Extend Correction in Double Three Structure August 22, 2023 By EWFHendra Short Term Elliott Wave view in S&P 500 ETF (SPY) suggests the decline from 7.27.2023 high is in progress as a double three Elliott Wave structure. Down from 7.27.2023 high, wave ((a)) ended at 444.96 and rally in wave ((b)) ended at 451.7. The ETF then extended lower in wave ((c)). Down from wave ((b)), wave (i) ended at 443.35 and rally in wave (ii) ended at 448.92. The ETF extended lower again in wave (iii) towards 433.93 and wave (iv) rally ended at 436.77. Final leg wave (v) lower ended at 433.05 which completed wave ((c)) of W. Wave X rally is now in progress to correct cycle from 7.27.2023 high before the next leg lower. Up from wave W, wave i ended at 436.55 and wave ii ended at 434.38. Wave iii ended at 438.89, wave iv ended at 435.32, and wave v ended at 440.11 which completed wave (i). Expect wave (ii) pullback to correct cycle from 8.18.2023 low before it turns higher again. Near term, as far as pivot at 433.05 low stays intact, the ETF can see further upside to correct cycle from 7.27.2023 high before it turns lower again. S&P 500 ETF (SPY) 60 Minutes Elliott Wave Chart S&P 500 ETF (SPY) 60 Minutes Elliott Wave Chart SPY Elliott Wave Video 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it?","likeSize":0,"commentSize":0,"subComments":[],"verified":10,"allocateAmount":0,"commentType":"valid","coins":0,"score":0},{"id":212239463665800,"commentId":"212239463665800","gmtCreate":1692847164663,"gmtModify":1692851795673,"authorId":4155947837379982,"author":{"id":4155947837379982,"idStr":"4155947837379982","authorId":4155947837379982,"name":"aditkkr094","avatar":"https://community-static.tradeup.com/news/5cd623d73ba79796a11b0e8bbe149989","vip":1,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":211772781490240,"objectIdStr":"211772781490240","type":1,"supId":0,"supIdStr":"0","prevId":0,"prevIdStr":"0","content":"Great ariticle, would you like to share it?","text":"Great ariticle, would you like to share it?","html":"Great ariticle, would you like to share it?","likeSize":0,"commentSize":0,"subComments":[],"verified":10,"allocateAmount":0,"commentType":"valid","coins":0,"score":0},{"id":212220554723448,"commentId":"212220554723448","gmtCreate":1692842695656,"gmtModify":1692842701810,"authorId":4095663116592130,"author":{"id":4095663116592130,"idStr":"4095663116592130","authorId":4095663116592130,"name":"SH888","avatar":"https://static.tigerbbs.com/3639b9618edb6f7a5b16e3f859b1dbe0","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":211772781490240,"objectIdStr":"211772781490240","type":1,"supId":0,"supIdStr":"0","prevId":0,"prevIdStr":"0","content":"<p>Long term Should be a good counter</p>","text":"<p>Long term Should be a good counter</p>","html":"<p>Long term Should be a good 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