%% IF only, it was as simple as wave abc\LOL Thanks for the pattern comment. I am enjoying Dr Suess books again; "OH the places you go........''
%% Good points/collectors uptrend. Some attempted a ban, anti-capitalist\ marxist mob nonsense. Sounds like the marxist mob is trying to promote illiteracy+ anybody that can read is a threat to marxism/LOL IF I Ran the Zoo+ Thing One + Thing Two, are some good reads. [On a related topic, Executive producer Larry Elder is doing an interesting film named ''Uncle Tom 2''] Most likely may cause some ''Waves '' LOL
The thing about Elliott Waves (or any TA technique) is you need to have a chart price that confirms or rejects your current viewpoint. Who knows what the bold trendlines @ 4128.73 and 3911.74 represent, besides what I mentioned above confirmation/rejection?
%% $412[rounded to nearest number] on SPY is the downtrend PSAR point; its not really a trend line on my chart, but so much the better. Nor have i found PSAR as helpful as some other stuff \ but PSAR sure looks good on charts. $411.730 is SEPT /SPY hi on my charts
They say in law school you have to learn how to argue both sides of a case. This mentality (similar to Charlie Munger's "invert, invert, invert") is extremely useful in elliot wave analysis, or any TA technique. In a lot of situations there is no definite outcome, just many possible paths that start to reinforce themselves as they get going. Such is life, and if you ever see any elliot wave analysis with only one possible count, run!
Elliot wave is not everyone's cup of tea. This is something very difficult to understand. Many people claims that they trade on the basis of Elliot wave. Twitter gives birth everyday to a new self claimed Elliotician. But if you master this wave theory then you will be unstoppable. It works very amazingly on charts.
Actually $SPX not closing above the higher horizontal TL is also confirmation of continuation of the bear trend. That kept intact waves 1-3 of higher level Wave 3 or C as well as swing high became wave 4. Trends should not overlap. What's going to really be "fun" is if bear is greater than an ABC, meaning 123 close to done but 4 & 5 somewhere belooow June lows.