Cycles are showing we are in a downtrend until March 24th, give or take 2 days. We already has the VIX cycle low on March 10th, so bullish counts are going against those cycles currently.
Unbiased Forex and Equity Swing Trades
Wednesday, March 12, 2014
SP-500 Bullish Options
Here are a couple of the bullish options. The white count has the previous high as a wave iii high. Since wave i is longer than wave iii, and wave iii can not be the shortest wave, wave v would need to top before 1905. There are no limits for red wave (iii).
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Hi,
ReplyDeleteThx for update. Red (ii) is too shallow and RED count not looking like a real impulsive rather a zig-zag from 1746
Ofcourse lookNfeel doesn't guarantee wave count.
Pls share some thoughts on what confirms to RED count.
Over 1905 will confirm the red count.
ReplyDeleteAs always, EWT consists of many wave counts which conflict with each other. Right now in the SP-500 I am not confident in any one wave count at the moment, so it's not useful to me at this time. I need to see some confirming levels before I can get behind any one wave count.
Over 1905 and the white count is void. If that happens, the red count will become my favored count.
H
ReplyDeleteIt looks like bullish option is out as of now. Is spx moving to 1740?
Thx
Yup, the SP-500 has invalidated 2 out of 3 bullish counts, which only leaves 1 bullish option. If this is the larger wave 4 correction I've been looking for it should take us closer to 1650-1700.
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