As shared earlier today, SPX has completed wave "iv"
If we are indeed in wave "v" now, it should run through a 1-2-3-4-5 subwave structure (see the red path), potentially pointing to 4500-4600 as the target range (need to be further estimated).
Looking at the subwave structure of the 1 today, while very deep, it does not have a clean structure I would expect out of a wave 1. So, this leaves us two things to watch for tomorrow.
1: If SPX gaps down at open directly, or it has a small boune (whether tonight or tomorrow) but fails to go above 5122, then this is a clear wave "v" down. It could take several days to complete this "v", or it may just get over with it tomorrow:) No one can tell how it will unfold
2: Since the initial drop today is not very clean, there is a small chance that a local bottom was already in at yesterday's low, and it would go through a-b-c to rally back up (see green path). However, there are multiple possiblities for this path, so, to be on the safe side, i would only take this path seriously if SPX can rally above today's high.
The overnight action tonight could provide some earlier signals. Will have to take a look late tonight again
Otherwise, we could see some huge sell off across the board. So far, people think it's due to margin calls + hedge fund unwind risky leveraged positions + China selling treasure.
There are also lots of nervous people ahead of tomorrow's auction.
As shared earlier today, SPX has completed wave "iv"
If we are indeed in wave "v" now, it should run through a 1-2-3-4-5 subwave structure (see the red path), potentially pointing to 4500-4600 as the target range (need to be further estimated).
Looking at the subwave structure of the 1 today, while very deep, it does not have a clean structure I would expect out of a wave 1. So, this leaves us two things to watch for tomorrow.
1: If SPX gaps down at open directly, or it has a small boune (whether tonight or tomorrow) but fails to go above 5122, then this is a clear wave "v" down. It could take several days to complete this "v", or it may just get over with it tomorrow:) No one can tell how it will unfold
2: Since the initial drop today is not very clean, there is a small chance that a local bottom was already in at yesterday's low, and it would go through a-b-c to rally back up (see green path). However, there are multiple possiblities for this path, so, to be on the safe side, i would only take this path seriously if SPX can rally above today's high.
The overnight action tonight could provide some earlier signals. Will have to take a look late tonight again
还是一个买点， 当然止损是必要的， 走出来了看。。。
But it is too complicated (99% of folks here would not understand), so I am pointing out the simple pattern here.
Otherwise, we could see some huge sell off across the board. So far, people think it's due to margin calls + hedge fund unwind risky leveraged positions + China selling treasure.
There are also lots of nervous people ahead of tomorrow's auction.
Give it a day or two and see how it settles