SPX, That B wave and the incoming Bounce
Either today or tomorrow I expect a move to around 4050 before dropping more to the 3750 area. Perhaps today we test 3900 and tomorrow the economic numbers give the bounce or, today they sell the open and then buy it up for the next few days. If they break above 4080, something else may be happening.
There's a potential triangle forming (green lines shows the possible outline). If we keep getting 2X3 waves (waves making 2 abc moves), then a real choppy triangle may be in play for the larger B. I'm keeping an eye on this as an alternative to a large B wave move up. Sideways before a drop down would also be typical for a B wave.
Good luck!
There's a potential triangle forming (green lines shows the possible outline). If we keep getting 2X3 waves (waves making 2 abc moves), then a real choppy triangle may be in play for the larger B. I'm keeping an eye on this as an alternative to a large B wave move up. Sideways before a drop down would also be typical for a B wave.
Good luck!
Yorum:
May chop around here before more movement up, but I think any lower lows will be bought for a small rally up.
Yorum:
spy structural support holding so far
