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Strategies & Market Trends : Technology Stocks & Market Talk With Don Wolanchuk
SOXL 46.82+9.4%4:00 PM EST
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To: #Breeze who wrote (203903)4/6/2025 9:23:03 AM
From: #Breeze4 Recommendations

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SPX Wave Count Update. Breeze

The outer Fibonacci retracement ruler measures a pullback from the Feb 2025 ATH to the Oct '23 low. Thru Friday the prices have retraced slightly below the 38.2% level. The 200 Week MA is at 4,674.

Now focus on the inner Fibonacci extension ruler. IF Wave C has unfolded as 5 five decline then expect much lower prices. I won't go into the EW math. Wave 1 and 2 are complete. Wave 3 typically tags the 161.8% level. Then a Wave 4 retrace to the 100% level. Then a Wave 5 to the ~ 227.2% level or 4,326. So this correction could go into May.

If Wave 3 ended on Friday then Wave 5 would end at a higher price.

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