Here is a nice setup supported by a trigger of the wave oscillator.
The SPI200 (now at 5327) is moving South to the targets displayed in the weekly chart below.
STOP LOSS
initially stop loss: 5486
then
trailing stop: 94 points
NOTE:
Drop your stop loss and set your trailing stop within few minutes.
TARGETS
likely: 4994-4953
possibly: 4836-4816
maybe: 4570-4563
ELLIOTT WAVES
As you can see in the monthly chart below The SPI200 performed wave 3 up followed by a double top with wave b. The latter will be followed by c, d and e on the way down.
SPI200 monthly - click to enlarge
SPI200 weekly - click to enlarge
SPI200 daily - click to enlarge
SPI200 : wave oscillator overimposed to a daily chart - click to enlarge
SPI200 4-hour - click to enlarge
SPI200 1-hour - click to enlarge
