S&P500 UPDATE

Original post here: https://thehovistrader.wordpress.com/2017/03/13/sp500-review-friday-10th-march-2017/

Absolutely SPOT ON!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

74

Once again I’m proving to you that it is very possible to predict price and time simply

Yes we can use cycles and fancy advanced methods – but to start off with we can use the price and time basics of previous swings, throw in a decent accurate Indicator and you then have a potential high probability set of items that can be used to profit from the markets

By the way the HIGH was confirmed yesterday when price CLOSED below the previous swing low.

So what we now have on our hands is either:

  1. Prices are going to crash
  2. Prices might have a major, Intermediate or minor correction and then resume upwards to new highs

Unless you know EXACTLY where we are in the market (and nobody does) then you just have to WAIT.

I don’t know what it is but the past month a number of Elliott Wavers have come into contact with me – they gave up counting waves a few weeks ago as it became unclear what wave number the market was in! You can’t just give up naming waves! If you know the market is moving in Elliott Waves then you should have wave count – the fact that, that got blown out of the window tells you everything you need to know about how accurate EWT really is!

Gut Reaction?

Well my gut reaction is that this is just a temporary minor or Intermediate level correction the onus is still BULLISH so you have to expect new highs until a bear market is seen – It could just track sideways to!

It really is this simple! There’s no need to over complicate things

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