CastAway Trader
CastAway Trader Predict the Next Market Move

S&P - a bigger picture

I got couple of suggestions from you asking me to post long term charts more often.
I think its a great idea and its exactly when we need to zoom-out to understand where the market is now.

I stick to that long term count on Monthly chart where that drop was only subwave ( A ) of wave ( 4 ) down.
That drop could make a lasting bottom in subwave ( A ) of wave ( 4 ) down.

That quick pullback we are watching now can hardly be all of subwave ( B ) up but rather its subwave A up.
That means the subwave ( B ) up may itself be subdivided into A up – B – down – C up.
That means we will get a lot of whipsaw in coming weeks.

S&P Monthly chart updated on 3-27-2020

S&P may get a move down in subwave B down to retest the low or make a higher low in the coming weeks and then another push higher in subwave C of wave ( B ) up

S&P Daily chart updated on 3-27-2020

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