Replies to post #219 on SPX Elliott Waves (SP500)

[NASARAVI]

G

If the first chart is the direction then blue 3 must be at least 600 points from 1 to match the blue 1 length.

2723 + 600 or exceed it by a tad so 3 is not shorter.

Is that what you are thinking.

Regards.

[gratitude]

Current Elliott Waves - I believe the correction last week was blue wave 2. Spx needs to head higher from here to validate the end of the correction. While, it is possible for spx to test the low again or head even lower, blue wave 2 seems to be an ABC with enough waves already. Therefore, I believe the trend is up from here, with small corrections along the way.

So, my best guess is that blue wave 3 started already, and I expect blue wave 3 to finish in 4 months (beginning of December?).

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