Spy500: Elliot wave. Zoom out. Bigger correction incoming
Studied Elliot wave theory only for about 2 years. Any input appreciated.
Is anyone seeing this?
IMO, I believe we could hit wave 5 of 3 hit the 4.236 fib and then big correction incoming.
If fed continues to raise hike, war escalates, hyperinflation, etc - I believe we may have already complete this wave and we could be just on the BRINK of a much bigger bear market. In which case, further pain must happen and spy could go as low as 215.
Is anyone seeing this?
IMO, I believe we could hit wave 5 of 3 hit the 4.236 fib and then big correction incoming.
If fed continues to raise hike, war escalates, hyperinflation, etc - I believe we may have already complete this wave and we could be just on the BRINK of a much bigger bear market. In which case, further pain must happen and spy could go as low as 215.