Replies to post #148 on SPX Elliott Waves (SP500)

[NASARAVI]

G

You are right on track - I have two proprietary indicators - they are solidly above 50 and even 80

What is means - is that one represents daily move - so high above 50 that it will take time to correct
One represents weekly signal and that is above 80 mean same - lot to fall

I should have looked at them few days ago. Was busy July 20 moon landing celebration.

Anyway, you are right on the money - we have finished red (Iv) and going to red v to 3075 area.

Blue (iv) will come after August 7 or so.

Regrads.

[gratitude]

as expected, spx finished red wave 4, and it started red wave 5 which will finish blue wave 4 (refer to weekly chart). This wave, being a wave 5 will be choppy (few days up followed by few days down and so on). Subwave 1 of wave 5 either finished today or will be done tomorrow, then we get a 1-2 day correction, then 2-3 days up as subwave 3 and a new ATH, then a small correction (subwave 4) followed by subwave 5. All these over next 1-2 weeks, and my weekly charts will reflect it. Then we get a bigger correction, 80-100 points on spx.