Convergence of Fibonacci in SPX500
I think we already reach the top for the up movement of SPX 500 on June 19 2017, if not very close to it, which mark the beginning of serious down turn movement as this seem to be the top of wave 5 of (5) of V
The last few days - there is a lot of convergence from Fibonacci time calculations (red circle area).
Blue = from the top to top base, red = the bottom to bottom base, and green = trend base fib time.
As for the fib price, it nearly reach fib 2 (counting from the down movement from 2007 top to 2009 bottom).
Elliot Wave
The last wave, look like building an ending-diagonal wedge structure,similar with the 2015 wave 5 of 3. Using the triple combo waves counting, I believe wave z is already completed (or soon if it is 5 waves instead of 3).
There is still other alternative counting based on more traditional 5 waves structure where June 19 high is the top of wave 3 and the top would be by the end of the year.
Borrowing my friend WallStScalper's term - we are in broken arrow era :)
oh yeah I borrow the ending diagonal and pendant concept from him - check his amazing charts and ideas.
The last few days - there is a lot of convergence from Fibonacci time calculations (red circle area).
Blue = from the top to top base, red = the bottom to bottom base, and green = trend base fib time.
As for the fib price, it nearly reach fib 2 (counting from the down movement from 2007 top to 2009 bottom).
Elliot Wave
The last wave, look like building an ending-diagonal wedge structure,similar with the 2015 wave 5 of 3. Using the triple combo waves counting, I believe wave z is already completed (or soon if it is 5 waves instead of 3).
There is still other alternative counting based on more traditional 5 waves structure where June 19 high is the top of wave 3 and the top would be by the end of the year.
Borrowing my friend WallStScalper's term - we are in broken arrow era :)
oh yeah I borrow the ending diagonal and pendant concept from him - check his amazing charts and ideas.
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