Daily S&P 500 (SPX) Update: A Triangle Pattern is Almost Always a Wave 2 or Wave 4

in money •  6 months ago

SUMMARY

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The S&P 500 Index (SPX) is likely patterning out a symmetrical triangle as shown in the below chart. The blue lines drawn across the tops and bottoms of the price bars are contracting and the ABCDE (red) waves show that all except wave E is complete. Keep in mind of the potential for a wave D breakout (blue arrow); however, I believe the E wave breakout is more likely (white arrow).

The purple Elliott Waves show that the symmetrical triangle pattern is coinciding with purple wave 4. Such patterns are almost always wave 2 or 4. When it is a wave 4, it almost always precedes a wave 5 or acts as a signal that a wave 5 is coming. It's quite consolidating for prices in this pattern and hence very rare to see it as a topping pattern process. So, once purple 5 gets in progress; new all time highs should be triggered. Video has more details.

Legal Disclaimer: I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It should not be considered financial or investment advice of any kind. One should consult with a financial or investment professional to determine what may be best for your individual needs. Plain English: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.

Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
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Tutorial on the use of Fibonacci & Elliott Waves
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No joke, I'm not kidding... I'm going to name my son Elliot and his middle name is going to be Wave.... Elliot Wave Anderson.

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That's actually pretty awesome!

Bull Run then Recession???

Thanks for the analysis haejin

This doesn’t look like there’s going to be a recession

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Prices will rise until the hidden hand will stop pushing them higher.
The 1901, 1929 and I believe the 2009 crashes were intentionally caused.
About 1987, the Japanese stock market crash of 1989 and about 2001, IDNK.
At least some recessions are intentional.
Unsubscribe from the channels that keep scaring people from recessions and push them to buy gold or silver:
Peter Schiff, Mark Faber, Harry Dent, Gerald Celente, James Rickards, Mike Maloney, Bill Holter and Jim Sinclair.
These are all bad people and there are more.
They want their followers to lose money.
They are true psychopaths, not any better than the ones that call the shots.
I think they play the counterpart for the same powers.
Watch Kay Kim's videos about Marc Faber.
He gave a brilliant expose about this type of people.

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You got a 33.33% upvote from @luckyvotes courtesy of @stimialiti!

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You got a 14.81% upvote from @sleeplesswhale courtesy of @stimialiti!

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Hey @stimialiti, Congratulations! Bodzila just upvoted your post with 25.00% power. Keep up the good work!

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@youtake pulls you up ! This vote was sent to you by @stimialiti!

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There will be one, just not now. It will happen near the end of 2019 to the beginning of 2020. I wish I could disclose the indicators that when confirmed are 100% accurate in predicting a recession. But, it's from one of my expensive financial newsletters and I don't pass on information that is paid for.

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Other charts posted look like there will be a major recession, a rise to ATHs (prob to due Fed printing money), and then the big crash. Either way, future looks uncertain.

Btw, what newsletter if you don't mind me asking? I'm looking for one to subscribe to

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True Wealth through Stansberry Research. Dr. Sjuggerud maintains a 16% annual return on his portfolio of picks.

Ty for helping, like always!

Just thought I'd chime in to say there's no way in hell I'm paying 800$ for BTC live, that's a complete joke. And watch out for this rising wedge on the BTC / USD pair you failed to mention on today's update. Peace out Haejin hope you make some money.

I completely agree with you but it is still hard to sit and wait. Just HODL for the time being but I can't wait for the trigger.

Very beautiful and will be in the video Stockwith @stocks@
Thanks for the first time in the blog
Sir i.m new joining the steemit, I have a look at the moment.