SPX topping again? S&P500 retrace done or soon will be.

Güncellendi
Stock Markets in general look to have topped for now.
Observing the S&P500 because it has been the most bullish.
After an impressive bounce, it is coming due for a pullback.

Due to Gov shut down and trade wars, we should see a leg down.
This index has already touched and failed at two resistance zones.
The Green zones represent support areas, where bonces will occur.

There will also be "Dip Buyers" that will become "Rip Sellers" soon.
We may see on more small leg UP for a 'Blow off Top" to this wave.
If we do get another leg up, I expect 2700 to be strong resistance.

Bulls beware the "Wide Open Space" between 2520 and 2440.
If the zone at 2520 fails, then it will be a quick drop to 2440.
Bears might also target that space for a quick high gain short.

NOTES:
Drag DOWN on price scale to see more zones above and below.
Drag UP on the price scale to remove overlaps in numbers.
Drag RIGHT on Time scale for history and Fib originations.
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First leg is under way anlık görüntü
Close up shows confirmation of each zone anlık görüntü but only a brief pause around first support.
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Quick Fib on leg down from US open anlık görüntü Looks like 2618 next stop

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I am seeing two Impulses and their Ripples anlık görüntü Green 4.236 and blue 3.618 Confluence looks likely for target and a bounce . so more like 2600 than 2618

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The above two fibs placed onto the original chart anlık görüntü puts us Exactly into the support zone created by longer tf fibs on original chart. May not happen today, but under 2600 looks highly likely within the next day

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zoomed way in, we are right at a critical line going into NY open anlık görüntü
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SPX struggling against a green ceiling around 2640 anlık görüntü
Looking at the bounce anlık görüntü I screwed up and did not account for the Green 3.618 which is on the live chart above, but not extended.
Here is a nice look at that Green fib series isolated anlık görüntü sure looks to be the current rhythm.
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Market looked to have double topped at the resistance zone, but then broke out anlık görüntü Now it is up against a pretty strong resistance again. This week will be the decisive window to either break above or to start dropping ...
Elliott WaveFibonacciSupport and Resistance

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