On 12/30/16 the SPX bottomed at 2233.60 in the area of three Fibonacci coordinates.
.236 retrace of the rally from 11/3/16 at 2083.80 to 2277.50 = 2231.80
.50 retrace of the rally from 12/1/16 at 2187.40 to 2277.50 = 2232.40
wave (II) to .b is a near perfect 1.382 ratio to wave (I)
Additionally, both the 15 minute RSI and MACD have bullish divergences.
The best wave count has an Elliott wave Expanding Flat forming. *see page 47 of "Elliott Wave Principle"
Upside target zone is SPX 2254 to 2258.
Three Fibonacci coordinates is powerful support and will take a powerful move down to break.
If at any time during trading 1/3/17, the SPX goes below 2230 it will open the door to at least a 20 point move down either on 1/3/17 or 1/4/17.
Mark
.236 retrace of the rally from 11/3/16 at 2083.80 to 2277.50 = 2231.80
.50 retrace of the rally from 12/1/16 at 2187.40 to 2277.50 = 2232.40
wave (II) to .b is a near perfect 1.382 ratio to wave (I)
Additionally, both the 15 minute RSI and MACD have bullish divergences.
The best wave count has an Elliott wave Expanding Flat forming. *see page 47 of "Elliott Wave Principle"
Upside target zone is SPX 2254 to 2258.
Three Fibonacci coordinates is powerful support and will take a powerful move down to break.
If at any time during trading 1/3/17, the SPX goes below 2230 it will open the door to at least a 20 point move down either on 1/3/17 or 1/4/17.
Mark
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.