This $SPX decline looks corrective from the high

TRIGGER TRADES
12-20 21:56

This $.SPX(.SPX)$ decline looks corrective from the high, and I can only count 5-waves up from the August low to mark the completion of the newly labeled Wave A under [W5]

Therefore, leaning this decline gets bought above the [W2]/[W4] trendine, 5730, with support at 5867-5805 for Wave B.

We could see price form a zigzag or even a triangle for Wave B, but a new high is expected to be made in 1-2 months.

However, a cross below the [W2]/[W4] trendline would invalidate this and confirm that the top is already in.

$SPDR S&P 500 ETF Trust(SPY)$ $E-mini S&P 500 - main 2503(ESmain)$ $NASDAQ 100(NDX)$ $Invesco QQQ(QQQ)$ $E-mini Nasdaq 100 - main 2503(NQmain)$

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Comments

  • MatterOfOpinion
    12-21 19:08
    MatterOfOpinion
    Great article, would you like to share it?
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