SP500 Elliott Wave 25 February 2020
S&P 500 Overview – Bearish Impulse wave
Elliott Wave: Wave (iv) of a) of 4
Trading Strategy: Covering short trades entered 3362 at current lows near 3200 (3235 exit) 127 points profit
Whats Next: Wave (iv) rally is underway but will be short lived with Wave (v) taking the SP500 down into 3200 for the low of Wave a) of 4. Once this low is in place that we give us an impulse wave (five waves) down from the top making Wave a) then we can expect a higher corrective rally 61.8% the length of Wave a) as Wave b), Wave b) will have three smaller waves (a) (b) (c) and once Wave b) is completed we can expect another five waves down testing the low of Wave a).
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Elliott Wave News SP500 (SPX) NASDAQ (NDX)
This Elliott Wave Analysis is suitable for tracking the QQQ, dow jones DJI DJIA Emini (ES) SPY Futures Index, this video uses Contracts for Difference (CFDs) known as CFD Trading indices / Index trading.Technical Analysis Elliott wave and Trading Levels.
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