This fractals in the S&P 500 index very much resembles the fractals of the German DAX index.
As can be seen we just have or are about to end the fractal of one larger degree with the eight count in place. If you look what happened after the minor fractal eight count finished, that would mean we should see a move down below the big circle five count, which in this case means a move below the 666.79 low on March 6. 2009. That do fit well into the primarly Elliott wave count calling for wave [C] down.
A break below support at 1,083 should confirm that the eight count is complete and that a big scary decline is underway.
No comments:
Post a Comment