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I am not a big fan of Elliot wave, nor is it my area of specialty, but last night this chart pattern jumped right out at me from the charts. It was a glaring 5 waves up followed by a corrective abc equal size. What is even more interesting is a smaller abc within the b wave. I posted this chart in the forum here soon after.

This is how the day ended. There was some fresh news that pushed the index up at the last hour. Notice another 5 wave decline soon after I posted my previous chart. “Perfect” patterns like these seldom appear, but have strong predictive value when they do.


Hi, Spencer here! 😀

After making my first million at 28, and trading & teaching across 60+ countries, I have consolidated my knowledge and experience to create the most comprehensive & practical guides for profitable trading, compiled from thousands of books, websites, courses, and interviews with professionals.

comment-img As a former professional trader in private equity and proprietary funds, I have over 15 years of market experience, and have been featured on more than 20 occasions in the media.
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