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发表于 2017-4-30 05:39 PM
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4/30/2017 sp500 wave structure analysis and target projection
There are two arguments about current market's short term direction. I am describing them as following:
The short term bullish view with wave 5-3-4 finished at 2328.95 (a truncated wave C finish)
as long as sp500 hold 0.382 fib around 2354, this wave structure is still valid
also the level 2354 can act as the reverse head and shoulder's right shoulder
it is not necessary, the price has to hit 0.382 fib before making reversal, it can reverse the course by any fibs: 0.618: 2371, 0.5: 2363
the upside wave 5-3-5 target is around 2479.71
http://schrts.co/CzgnNs
The short term bearish view with wave 5-3-4 not finished yet, a flat corrective wave structure
wave 5-3-4-B finished at 2398.16
wave 5-3-4-C is on going, at least back to 2322, if break down, the target can go lower to 2260 area
http://schrts.co/hb2qpF
In summary, I am leaning to the first case that we are in wave 5-3-5 now, any corrective wave within wave 5-3-5 will not break down 0.382 fib.
Note, my personal opinion is not for investment purpose, but for education and illustration. |
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