Elliott Wave 5.0 "Reboot"

Tuesday, January 19, 2016

Intraday E-Mini SP500 Price Crash Review



The wild gyrations are not your simple, average impulse waves, so they can produce some will moves as well. I'm looking at a potential expanded pattern  as the recent decline have overlapping waves. What else is new as seems to be the theme in the last year or so. 

Even without the expanded pattern another zigzag may just be ending. Either way, one more push to the upside can happen before all this falls apart again. 

The VIX futures barely moved ignoring this SP500 crash. This tells me that the downside for the VIX is strong, potentially sending the SP500 north again. If no new low happens on this trip, then it will happen on another trip as this pattern is corrective in nature.