SPY analysis (Update)

(Side note I did take a small loss on a "Bullish- Call option) I had a while back on my previous analysis and got out when things got confusing which is a great time to get out is when confusion comes)


Tech idea :

Probabilities : We either have a playing
out (Flat) or "1-2"Wave 2 : Most common Retrace (0. 5-0 .618-0.65)

Common wave 2 (Time ratios): Wave 2s are unlikely to be under
100% of time taken by wave 1

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(Expanded Flat) : We would look towards the extension of (1-1.618) and
usually termination close to or a lil under the
"Termination of Wave A". We would want to definitely be able to easily spot out a
(Impulse of a 5 wave down)

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Summary : We cannot confirm yet which of these 2 scenarios ,
so we will haven't to be patient and look for confluence in
some of the areas

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Wave 2 (Invalidation) : We wouldn't wanna see this under (Golden zone #2)
and beneath the "Lower parallel" of the "Pitchfork" and we wouldn't wanna see this
(85%-90%) below as that is a low probability of a bullish reversal before a sweep of lows.