Options Wonderland

[Fox13]

Two possible Elliot Waves Counts for SPX 60 min.
Chart 1: BEARISH
Chart 2: SUPER-BEARISH


I should adopt a SUPER-BEARISH count if the SPX value would enter the W1 (red) territory, in which case the BEARISH count would be negated. This scenario is very likely to happen since Friday after hours the market engineers displayed a visible effort aimed at lifting the SPY price… A probable gap UP on Monday, will take the index well above the MAW(78), where it closed on Friday.

These charts keep some of the “marks of the past “ which were useful and which might have some “residual memory” value for the present…like a FORK and its “imbedded Gann fan”. The counts are only an exercise, since I am just learning.. I am favoring the longer term bearish “posture”…and the interesting thing (if you compare the two of them) is that if you are more bullish short term…you are VERY bearish for a longer term…