Σάββατο, 6 Αυγούστου 2016

S&P500- Swing Trading from ElliottWaveTrader

Author: Garrett
SPX, S&P500, 60MinChart

$SPX - Micro - Aug-04 1227 PM (1 hour)
We still don't have a definitive answer whether or not wave (iv) in the red count is complete yet, since if red wave (v) has started, we are dealing with some sort of diagonal off the low. Therefore, I am more interested in support and resistance at this time to weigh probabilities. As long as price is above 2155 SPX, there remains a decent chance that price intends to head up to 2196 SPX next in red wave (v), which also increases in probability above today's high. Otherwise, below 2155 starts to shift odds back in favor of this bounce being corrective, and a test of the lower support for red wave (iv) at 2136 SPX next.

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