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Category Archives: SPY

SPY: The Bears Have Returned!

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SPY is a main popular ETF that tracks the SP500 index. We can get an alternate look at this bearish phase which has not recorded a new high since the January peak. Just by eye balling this potential wave 1-2 decline we can roughly judge that the 2016 low will never hold.  Add on an extended wave 3 and an extended wave 5 and this wave count would go below the bottom of the chart above.  (180). Now if a long skinny spike were to develop then the entire structure could turn into an Intermediate degree zigzag crash. In 2016 Brexit fears dominated and the big crash was forecast on all the blogs,  yet SPY turned and roared with a gain of 159% in just two years. Of course nobody can capture that move, as the planet is killing each other just for a 2-3 % return. This market should lose  2/3rds of its price in the next 3 years. This may sound depressing to most, but investors should chear when the end does arrive.

One thing I will boast about is that Elliottwave5.com is dedicated to all the Cycle degree wave structures ,which is the only blog of its kind on the Internet. With out a doubt, this blog has the most Cycle degree related wave counts anywhere.

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