Ten Year Notes ($ZN_F) low 10.08.2018 will decide the Extension in $SPY
Many Traders use to trade only one instrument and fall into the trap of isolation resulting in seeing only just a little piece of the whole Market. We at pay attention to the entire Market because we believe each instrument plays a part in the whole market. Sometimes the most insignificant instrument can offer the clue to have the right forecast or profitable trade. There is no secret that the Elliott wave Theory can offer more than one path, and there is always an alternate view or path. We do not feel comfortable providing alternative views, because we have developed a system to locate the right side, and only present the scenario with a higher probability.
In this article, we will show how to forecast the most probable path for $SPY by looking at other instrument. On the chart below, $SPY shows five waves from 2009 low within the Super Cycle degree:
