SPX BTFD - Long opp soon??!

8 Eyl 2016

Looks like wave 1 of 5 ended at 2186.8 and we have a 3-3-5 structure building now for wave 2 in the form of a flat.

2167 is .618 fib retrace as well as bottom of channel, hoping to see spx drop till there to grab a long, but will start a long position once it seems like the 5 wave down is complete. currently looks like we are on wave 3 of corrective wave C.

9 Eyl 2016

Not

target reached, but didnt like the wave structure of the move down, couldnt fit 5 waves in, might go lower than channel, but not lower than 2155.9 (else I'll ahve to recount!!)

possibility that this might be an expanding triangle instead of a A-B-C correction and wave 4 isnt over yet... but will have to take a deeper look at the sub waves if we do break 2155.9