Elliott Wave 5.0 "Reboot"

Tuesday, March 15, 2016

E-Mini SP500 Intraday Cash Chart Review: Correction In Progress?



This contract does not move during the night, but only moves during regular trading hours.  We may be at a point where a bigger correction is due or starting to happen. I am also looking at this as a potential fake rally heading to a "B" wave top in a bigger triangle. 

Technically, we still should have more upside to go before we reach that point of a potential double top. Besides, another small expended extension could still make this wave count a bit earlier. 

At 1950 would be the worst case scenario  as after that,  all impulse wave rules will be trashed.

Not much action at this time, but I expect it to heat up later in the week.