$SPY TOP 20
Added 2025-04-10 21:04:16 +0000 UTCThe price action today is the ultimate mixed signaled formation:
Bullish indicators:
Higher high and a higher lows are seen now since $481
Waves are overlapping but this can be seen at the start of a new impulse wave (Subwave 1 of Wave 5) and it is called a leading diagonal (Lesson 4)
Still a cushion above the invalidation level at $480
Bearish indicators:
Only 3 waves so far are clear and one pull back, we need 5 waves to confirm an impulse wave
Waves are overlapping which is typically seen on corrective waves with the exception above
The higher high and higher lows are also found on bear flags
So right now we simply need more price action to confirm that the next direction.
But that being said, regardless of whether this is Wave A or B or even the new Wave 5....there is going to be a bounce and back up to the 50 WMA target, which is at $565 today.
Comments
I assume 5 waves up as a leading diagonal would be a new impulse wave and mean contrarian view was more likely. Obviously we need that 5th wave up and a higher high above yesterday for that to even be possible.
Adam L
2025-04-11 00:23:34 +0000 UTCSounds like my ex.
Chris H
2025-04-11 00:21:16 +0000 UTCI posted earlier that I thought it could a be a leading diagonal. Shocked I got something correct with ew lol If that were the case would that give any hints that this is the contrarian view if are getting 5 waves up? Or could it be wave waves up for wave B?
Adam L
2025-04-11 00:16:28 +0000 UTCWhat would convince you that we’re in alternate wave to ath?
StevieV22
2025-04-10 23:32:05 +0000 UTCThanks for your continued guidance through these crazy times!
Zachary Alpirn
2025-04-10 21:09:57 +0000 UTC
