The choppy action in the stock market could be coming to an end very soon. My prior posts have noted the SPX primary count from the 2/11/16 bottom is a truncated Ending Diagonal Triangle which counts as complete at the 9/22/16 peak. This is a super bearish wave count. Subsequent to the 9/22/16 top at 2180, the SPX has been declining in what looks like a series of "ones" and "twos". This is also a very bearish pattern and the third wave "II" up could be complete on 10/14/16.
If the SPX tops in the 2144 to 2150 area the subsequent decline could be a very powerful decline down to SPX 1800 by 11/1/16.
Today 10/13/16 the SPX had the second test of a .382 retrace of the move up from the Brexit bottom to the all-time high at 2193. If the next decline decisively breaks below SPX 2114.70 it could open the door to a very large decline.
Mark
If the SPX tops in the 2144 to 2150 area the subsequent decline could be a very powerful decline down to SPX 1800 by 11/1/16.
Today 10/13/16 the SPX had the second test of a .382 retrace of the move up from the Brexit bottom to the all-time high at 2193. If the next decline decisively breaks below SPX 2114.70 it could open the door to a very large decline.
Mark
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Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.