A PART OF NY A Macro View on the minutiae

This last week was not great, however it is always good to look forwards, so lets do that.

I have now come down to two predictions, one based on my EW count and one based upon EWI’s count. 

The prediction based on EWI’s count (we are in a primary 2):

SPY prediction EWI count

I am still short now however I’ll be covering at the red line – and then waiting for a bit to decide what to do next.

Here is a close up (90 min) of the various lines:

SPY 90 min

Checking the Elliot Wave International Short Term Update it seems they still feel that we are in a primary 2 up.  I feel obliged therefore to post a prediction, based on this call.  I am still thinking that we are still in primary 1, starting wave 5 down, so I am not confident in this analysis, however….

Primary 2 SPY