S&P 500 Weekly TA - Waves & Head/Shoulder - bottom 1934 Feb 2021
Going back to basics and keeping it really simple by looking at the weekly time frame instead of all the noise in the hourly. TA shows a textbook motive 5 wave pattern starting in 2009. Lines up perfectly with the S&P peaks and valleys. The head and shoulders pattern often represents the end of a motive wave (3-5) and the following corrective wave (ABC). Putting the two together gives a bottom of 1934 around the February 2021 time frame.
As always, this is just and idea. Markets are hard to predict else we would all be rich. I am probably wrong more than I am right.
Hope it helps and good luck.
As always, this is just and idea. Markets are hard to predict else we would all be rich. I am probably wrong more than I am right.
Hope it helps and good luck.
