What Does a Fractal Look Like?
Despite this decline and knowing the alternative bear count i still prefer my principal count, until the broke of the trend line (bold green). On the other hand, this last movement until know don't seems impulsive so maybe is possible new highs during this week. Despite this count, i enter short today. For me, the bull case chart is "finito".
New highs were made! And now? Well, i need more data to understand better this pattern.
In the bear case, on SPX cash, since last week lows, we can see 5 waves done. However in cfd's, SPX made an interception with the possible micro i and iv. So, in Cfd's i'm count this pattern like an ending diagonal triagle or a rasing wedge. Consequently, SPX can made one more high to finished this pattern.
In the bull case (each day that pass i like less this count), SPX may will do a small retracement but must accelerate this upside with a good rally.