$SPY Intraday Pattern Explained Sept 17, 2021 - Video and Transcript
This video explains in less than 1 minute the $SPY Intraday Pattern. Turbo Trading's Head Trader Robert Knight, MBA shot this gem of a video on September 17, 2021. For more up-to-date trader information, multiple videos per day, and a daily Stocks-to-Watch list, become a member at Turbotrading.biz.
Transcript
Just a quick video here on the $SPY and the pattern here this morning and why I said, we would look for the next leg down. We can see that the market here, you have this first wave down and it's a, five-way move down one to two, three, four, five-wave move down. Then you get a three-way corrective 1, 2, 3 way of corrective in leg two.
Now you're starting. And then it came over and it failed to hold at this 42 level 50. And now breaking down below that. So this is your leg three down. So this is a 1, 2, 3, 4, 5 wave move down two, three wave corrective. And now the start of the wave three down. So maybe this is a one to get a bit of a bounce back up to.
This level here for four to five, and then it rules over, uh, for the third leg down of a five-wave pattern.
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