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Wednesday, June 29, 2016 7:56:20 AM
2 SPX 60,IWM 60: first with a zoom in and second with a larger time frame.All ending on July 22 with current fork and label pattern.
First chart shows two possible wave patterns for the large corrective. The green fork ML would take out that triple I have labeled as "not a high probability triple" and would finish within the week of July 22, the blue fork could go out as far as the second week of August if the base anchor is correct and price ends at the ML.
Second chart, This chart has the big picture and a red down fork to add another measure. Price recently bounced off both the blue and red MLs, Fork positions have good respect for reversals and gaps and this chart closely matches the IWM chart on bottom and what I favor now.
[img]stockcharts.com/c-sc/sc?s=IWM&p=60&st=2016-01-01&en=2016-07-22&i=p75584297007&a=423219137&r=1467201271070
[/img]
First chart shows two possible wave patterns for the large corrective. The green fork ML would take out that triple I have labeled as "not a high probability triple" and would finish within the week of July 22, the blue fork could go out as far as the second week of August if the base anchor is correct and price ends at the ML.
Second chart, This chart has the big picture and a red down fork to add another measure. Price recently bounced off both the blue and red MLs, Fork positions have good respect for reversals and gaps and this chart closely matches the IWM chart on bottom and what I favor now.
[img]stockcharts.com/c-sc/sc?s=IWM&p=60&st=2016-01-01&en=2016-07-22&i=p75584297007&a=423219137&r=1467201271070
[/img]
if it looks right it is right
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