[suriNotes]

$SPX.X Wolfe Wave?
Wave 4 is below Wave 2.
It may be violation?

Regards,
Suri

[suriNotes]

Another scenario for SPX.X chart
is Right-Angled Broadening Top pattern....


Regards,
Suri

[waveslider]

Suri,
I agree with your broadening top situation.
If you look at the chart I posted, the #1 point is further back.
So point 4 is slightly below point #1.
Having a hard time believing in the rally, internals and volume have just been horrible, so that leaves just short covering powering this one.
The only standout is the nasdaq, which is powering along well.

[suriNotes]

I am bit puzzled... I thought I posted this chart in the morning
along with my previous post and now I do not see

Anyway, Here is the Broadening Pattern targets if it materializes.
Broadening Patterns are rare but reliable.

Some exhaustion rally may still push SPX a bit higher.

Regards,
Suri

[traderdan]

I just found your thread over the weekend. Is this a Wolfe Wave? It's a 377 tick YM chart.

[traderdan]

The first chart I posted hasn't reached its target yet - if it does. It could still get there if price keeps coming down. Here is another one that did complete this morning.

[Tasuki]

traderdan,
Compare the first and second charts you posted. The second one was just about perfect, but the first one wasn't 100% Wolfe-like, so to speak. Note that pivot 1 in the second chart was right in the middle of the range, and that pivot 2 dipped to new lows, scaring the pants off retail traders (that's what pivot 2 is spoze to do). The first chart lacked those salient features. It still might work out, of course. Just thought I'd point out those details for everyone's edification.
Tasuki

[suriNotes]

Here is Potential Broadening Top Pattern formation in @ES...
I'll watch the MidChannel level for key support.

Regards,
Suri