One Last S&P 500 Interpretation for the Moment

One more way to look at the price action is as an ending diagonal. Orange “C” should be a 5-wave move, and any will do, including a diagonal. It’s visible on futures, too, but clearer in the cash session, so I will post a screenshot of $SPY to demonstrate it here. These may “underthrow,” but they don’t always.

SPY

And also, if it doesn’t fall straight to red 5 now, it may do this as well:

SPY


Note: When my work is first published on this website, it is made available to patrons who support my work through my Patreon account. Over time (usually after a period of a few months), I make the work public. To gain access to my work when it is produced, please consider becoming a patron. More information may be found on my About page and on my Patreon page.


3 thoughts on “One Last S&P 500 Interpretation for the Moment”

Leave a Reply

Your email address will not be published.