SPY Ending diag or Leading diag?

17 ก.ค. 2018

SPY looks to be putting in the W5 of this diag,is it leading and we will continue to new ATHs or is it an ending diag to complete a complex B wave and we get an impusive C wave down to complete the ABC correction. as you can see algos were defending the .50 in W4 giving us a target for W5 at the -.236, which also will possibly fill the gap from the start of the A wave. Taking into consideration the length of time this correction has been relatively short compared to the bull run we just experienced. Failure to fill the gap is a sign of weakness and increases the probability we will see a C wave down. Buckle up and hold on to your hats this is going to be a fun ride.
look for large block trades coming in on the VXX, which I did see a couple very large ones at the end of last week. This is something to watch very closely