SP500 Looking Positive At 3000 Resistance!
SP500 Elliott Wave and TradingLevels Technical Analysis 21 Oct 2019
SP500 Technical Analysis: The SP500 is looking positive at 3000 ( Major Trading Level TL3). Positive because the market hasn't rejected the 3000 price point. Of course the safe long trade would be to have the TL3|3000 as the tested support.
SP500 Elliott Wave: The last trend up from the 2900 area is in three waves meaning a corrective rally, that said it can turn into five waves (Impulsive) a positive structure which would take the Sp500 above the TL3. I have two possible impulse wave counts for the upside that are explained in the video. While the market remains above 2930 the whole Elliott wave struct remains positive.
S&P500 Trading Levels: TL3|3000 is a Major Level and the market is being supported buy Sub Levels, which is two degrees lower than the Major Level 3000. The Sub Levels is Sub Group2 SG2|65|72|80 or 2965|2972|2980 this is the current support levels followed by the next level down the Mid Point 2950.
SP500 Trading Strategy: The video explains the long and the short trade triggers...
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