SPX Elliott Waves (SP500)

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Current Elliott Waves - Larger degree wave 1 (green colour) ended at the end of May, and market is now doing wave 2 down (probably a zig-zag ABC).

The leg down (A) is now complete and it has started wave B up, which will probably be a zig-zag itself, and I expect it to be done as shown on the chart (price values and time). Then, wave B wave will be followed by leg C down (more about it when we get there).

Do not use Elliott waves for short term trading - they work properly for longer term trading (i.e. 2-3 months is the best)