Very Promising Local Structure

I want to zoom in even more on this roadmap locally. I don’t prefer the “if there’s strength” scenario, but if there is, at least I will be able to explain it.

My preferred view is a reach to 4200 and I want to zoom in on that. I have suspected that we might distribute up here, and so far we at least have in fact seen some congestion here. One question is: how long could we stay up here? And looking closely, perhaps not too much longer.

From Green B to Green C, we may simply have an impulse wave up (5 blue waves). There should be a relationship between waves 1 and 3 and 1 and 5. There is a 78.6% relationship between blue 3 and blue 1, and as it turns out, a push to 4200 will give us a 38.2% relationship between blue 5 and blue 1. So, at 4200 we would have good balance.

SPX

It is thus possible that the last couple of days have been blue 4. And internally, it counts quite well and balanced as an a-b-c (in orange), with orange c being an impulse wave of its own, and it, too has excellent internal balance between the red waves that compose it. I have noted the various relationships on the chart.

SPX

My conclusions from this are that I expect one more push to 4200 and hopefully we will begin a decline from there.


Note: When articles are first posted, most of them are made available only to my Patreon supporters (I do try to publish some public posts on occasion). Over time (usually after a period of a few weeks or so), I make all of 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. In a nutshell, patrons of any denomination (you get to pick the amount) will be able to read my weekend analyses, Tier 1 members ($20/mo.) get access to all of the articles I write, and Tier 2 members ($35/mo.) get access to those, plus counts on other instruments and my Discord chatroom.


One thought on “Very Promising Local Structure”

Leave a Reply

Your email address will not be published. Required fields are marked *