Spy anlaysis E-MINI S&P 500 FUTURES (CONTINUOUS: CURRENT CONTRACT IN FRONT) CME_MINI:ES1! GioThaKingo Tech idea (Short-term) : Probability : ( ABC Wave) as the correction for the Full (1-2) possibly? I say possibly because on $SPY the definitive pattern is not as clean as to on "ES1!" Wave 2 : 0.786x wave 1 Wave 2 : Zig zag /// Style : Sharp Wave 3 : 3x wave 1 Wave 4 : (0.272x - 0.382x) wave 3 Wave 4 : Zig zag /// Style : Sharp Wave 5 : "1" parity (-1-4) ///////////////////////////////////////////////////////////////////////// Strengths : Wave 5 was equal to wave 1 . The base channel trendline (Light blue Trendline) was broken as a confirmation that the "Impulse is finished". Wave (B) showing a triangle gives a good (B) wave personality as it was made with "Low volume". We did show "Depth Alternation" as we have (A shallow wave 4 from our inverse deep wave 2). Wave (A) showed the correction personality of "Steepness". Weaknesses : We did not show alternation (Sideways inverse relationship to sharp guideline). (B wave) is pretty shallow but thats not very discerning since it is again a "Triangle" ////////////////////////////////////////////////////////////////////////////////// Summary : I would like to see (Wave C) get close to "1" parity of the (A wave) in "Time Ratio". We have "Golden ratio" down below and we have (0.618) measurement of "A wave" down below also close to the "Golden Ratio" so maybe we see confluence their. We would also like to see signs of bulls such as (Sideways movement at the "Golden Ratio") --- ( Bullish Volume with Bullish divergence ) are the first signs to look for. We wouldn't wanna see this close below (0.65-0.707 on a High TF) But all in we will let the market talk for itself. /////////////////////////////////////////////////////////////////////////////////////////// Invalidation : Strongly below 1.618x extension--- Aggressive invalidation (85%-90%) down from full move as that is a low probability reversal for bulls.