The market drew these trend lines in the cash S&P500 2-day chart. They are three-touch trend lines. I am just acknowledging them as best I can. Included is an overlap.
If the pattern plays out, confirmation will still be needed. At the moment, trading is awful. Every wave is throwing shade (meaning typical lengths are not being made). Perhaps that will right itself, eventually.
Have an excellent rest of the evening,
TraderJoe
SPX500 (CFD) 2-min: there is now a higher local high on this chart - and likely an 'internal' fifth wave in progress.
ReplyDeletehttps://www.tradingview.com/x/xBQ0jZda/
TJ