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Analysis Summary:
Scenario 1:
Leading Diagonal in Minor ABC (blue), part of a larger degree Ending Diagonal in the next Bull Market run, before the Market Crash. In this scenario, a deep pull-back should take place until the 50-61.8% Fibonacci Retracements. Fibonacci Extensions from Minors A&B (Minor C projection) are synchronizing with the Wedge Formation towards 2885.00 levels, but also with the joining Bearish Divergence.
Scenario 2:
SPX ( SPXUSD ) Alternate Count (turquoise) has been labeled in an Impulse which presents an Extension in Minor 3 (turquoise). This scenario puts SPX ( SPXUSD ) in a Minor 4 (turquoise) correction, which should honor the 23.6% or 38.2% Fibonacci Retracements of Minor 3 (turquoise).
Decision:
Scenario 1 is the preferred outcome and this is because the rising wedge does not belong in Minor 3.
* Both scenarios imply a bearish sequence as the next structure.
SPXUSD (SPX) - SELL ORDERS
Aggressive Entry @ 2885.00 with SL @ 2965.00
Moderate Entry @ 2915.00 with SL @ 2965.00
Conservative Entry @ 2980.00 with SL @ 3050.00
TP @ 2800.00 / 2750.00 / 2600.00 / 2550.00
SPX - 4H Chart snapshot
* This idea is to be treated as simple Market commentary and not as an immediate investment advice. Trade with care!
Many pips ahead! Richard
코멘트
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SPX turning bearish.
액티브 트레이드
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SPX preparing a drop. Let's see how deep it will be.