My answer for the captioned Question is--->No, i don't think so. Spx500 in short term is a retracement. Estimated top for wave 5 is 2900+, matched my analysis in earlier days.
Does look like the SPX is dropping so does this mean the analysis is true and the retracement is happening?
olegleo
⋅
Could you please update your view?
mball
⋅
@olegleo, more than likely you will need to wait. No one has an idea on timing and price yet. With the tax bill approved, the money will be taking loses this year and waiting to take a portion of their massive gains next year. So, don't expect a significant pullback until next year, thus, no one is going to have a properly adjusted chart until next year. More than likely, if tech analysts adjust it this year, it will be adjusted again next year. Keep in mind, this is historic as the last tax bill(s) was back in the Reagan era, so it will take time to sort out and time is the question everyone is unsure about.
seunao
⋅
Hi Faylee,
Will there be any pull backs before the highs?
Thanks
coolingla
⋅
Faylee,
Admire your work. But I believe the drop might be delayed yet again for another month or so.
Here is my chart for Nasdaq but SPX should follow similar path. Your opinion is great appreciated.
felix997
⋅
H&S can't see it can you show me where it is
seunao
⋅
Hey Faylee,
Is this a retracement?
Thanks
faylee
⋅
@seunao, yes, correction soon, maybe after tomorrow.