SPX extended the Wave B rally to the 110% ext of W | X and 78.6% retracement of Wave A-To The Moon - Tiger Brokers Online Investing Community

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SPX extended the Wave B rally to the 110% ext of W | X and 78.6% retracement of Wave A

$S&P 500(.SPX)$ $SPDR S&P 500 ETF Trust(SPY)$ extended the Wave B rally to the 110% ext of W | X and 78.6% retracement of Wave A.

Therefore, Wave B should have terminated at today's 5200 high.

If so, we should fade to 5143-5128 to begin, but likely retrace 61.8-78.6% of Wave B at 5050-5000.

Ultimately, if Wave B did complete today, [W4] has termination targets of 4920-4820.

Confidence will be reduced above 5200 - barring a rapid drop following.

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https://twitter.com/TriggerTrades/status/1787996024964792424

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Longmanlee
·05-08
The bullish sentiment too strong, it is very hard to retrace
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dong123
·05-08
Do you agree with their analysis?
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Therefore, Wave B should have terminated at today's 5200 high. If so, we should fade to 5143-5128 to begin, but likely retrace 61.8-78.6% of Wave B at 5050-5000. Ultimately, if Wave B did complete today, [W4] has termination targets of 4920-4820. Confidence will be reduced above 5200 - barring a rapid drop following. 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