Here I'm gonna share with you my favorite count for the S&P 500
We are in a corrective structure, which is unfolding in a triple three (3 zigzags)
This is my primary count for the S&P, it's very clean.
We have nice alternation between X waves (first one being an expanded flat, the one being put in now being a zigzag).
So right now we are looking for this X wave to complete, and after it we have our final zigzag in the Z wave, which would break the lows of course.
A couple days ago we rejected the top of the channel which was in confluence with a weekly level, so we are at a strong resistance area.
However I would like to see one last move up to take the liquidity resting above the highs at 4204 before getting that last move down. This last move would then represent the top of wave X.
It is possible that we have already topped out, or even that we have actually bottomed and are moving up impulsively in 5 waves.
I'm just sharing my preferred count here.
Any questions?
Good luck traders
Remember not to break your rules
Habib
We are in a corrective structure, which is unfolding in a triple three (3 zigzags)
This is my primary count for the S&P, it's very clean.
We have nice alternation between X waves (first one being an expanded flat, the one being put in now being a zigzag).
So right now we are looking for this X wave to complete, and after it we have our final zigzag in the Z wave, which would break the lows of course.
A couple days ago we rejected the top of the channel which was in confluence with a weekly level, so we are at a strong resistance area.
However I would like to see one last move up to take the liquidity resting above the highs at 4204 before getting that last move down. This last move would then represent the top of wave X.
It is possible that we have already topped out, or even that we have actually bottomed and are moving up impulsively in 5 waves.
I'm just sharing my preferred count here.
Any questions?
Good luck traders
Remember not to break your rules
Habib
