💼 SP500 (SPX): ending diagonal ⑤

2022年12月9日

●● Preferred count
● S&P 500 - U.S. (^SPX),🕐TF: 60D

Fig.1

The current count of long-term waves is already two years old. How much more is allotted to the wave V of (III) no one will tell you. All we are capable of is tracking the shape and structure of the wave, which should manifest itself in the form of a five-wave motive wave.
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● US SP 500 CFD (FOREXCOM),🕐TF: 1W

Fig.2

My experience with the Elliott wave suggests that in most cases there is an alternation of motive waves in the positions 1 and 5 of the impulse, as well as waves A and C of a single zigzag. Based on these observations, I expect waves "(C) of ①" and "V of (III)" in the form of ending diagonals.

It should be noted that we do not predict the duration and amplitude of fluctuations inside the diagonals. Only the shape of the model.
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● US SP 500 CFD (FOREXCOM),🕐TF: 1D

Fig.3

Counting of the internal structure of wave 2 is variable. As will be shown in the alternative marking, there is a possibility that the double zigzag in wave 2 has already formed.
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● US SP 500 CFD (FOREXCOM),🕐TF: 8h

Fig.4

At the moment the wave ⓧ of 2 is interpreted as a running flat with a diagonal at the end. The pattern looks complete, probably the resumption of decline within the wave ⓨ from the current level.
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●● Alternative count
● US SP 500 CFD (FOREXCOM),🕐TF: 1D

Fig.5

Variant of wave 2 structure counting in the form of a completed double zigzag ⓦ-ⓧ-ⓨ.
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● US SP 500 CFD (FOREXCOM),🕐TF: 8h

Fig.6

Both wave counts, preferred and alternative, offer good trading setups. The ending diagonal (c) of ⓧ within the preferred wave count, as well as the initial diagonal ⓐ of 3 within the alternative count, can be used for an aggressive short position.

At the end of the correction in the ⓑ of 3 wave, especially if it takes the form of a triangle, a long position is possible, counting on the resumption of growth within the impulse in the ⓒ of 3 wave.

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