123Tom's TA study group

[123tom]

Elliott waves can be tricky

to analyze. I can explain what Ive learned to make it easier. will be back later.
I just want to place this chart here for storage.

looking at the big picture/ where to start from.

how the bottoms are created with an extra drop. then extra rally to a higher peak... goes the S+P.
The S+P moves reliably alongside the Fibonacci magnetic target math,but with some tricky steps to deal with.

Fibonacci/Elliott wave analysis

In March 2020,the fake covid china scheme triggered a big market drop. the chart rally at 3400 was at a Wave 3 target zone waiting to hold the wave 4 and rally up in wave 5 to the 3700-3800 area.
After finishing this portion of analysis,I'll look at the next several months to see what price action did to reach that 3750 area.
I will return to this examination tomorrow.