SPX to bounce then Lower Low? 9.618 rejection still in play

15 May 2019

Follow up to my previous post when SPX topped, see link below.

The 9.618 extension is a very common Murder of Moves.
It already rejected, and day after was Trump-China escalation.
Thus the Gap down, which gave me another Impulse/fib to map.

Now I look for Confluences of the two Fibs pushing in opposite directions.
Blue arrows are possibilities implying sooner the bounce, higher the low.
One Trump Tweet could change it all, but I am doubting we have bottomed.

My previous Post raising alarms about the 9.618 top:

15 May 2019

Not

Got the bounce today as I thought we might now the bounce has reached resistance, and it is 2pm EST, a common time for reversals. Lets see how this plays out.

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