So far, I noticed that the market has been switching back and forth between a bullish/bearish Gartley pattern to make any Elliott wave analysis all the more confusing and taking more effort to do it on a daily basis.
From the SPY chart below, I foresee two possible scenarios in the coming days.
1. SPY could hit 79.99 and then rally towards 96.28.
2. SPY could rally all the way to 95.24. What happens after that, seems quite unimaginable...I know, it could plunge to 73.66 or lower to 60.97
One thing for sure....technically the chart is telling us that there could be a technical rebound soon. This analysis is only valid for today, not planning to play god to predict the future...lol
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