#ES Sliding To 1984.75, Its Lowest Target | #SP500 $SPY $SPX
Friends,
In continuation to yesterday signal of an imminent decline in the e-Mini S&P500, we are now witness to that plummeting fall, and today, we get to possibly witness ES Tumbles-Part Deux.
The technical background that predicated the plummeting fall yesterday was provided by a Wolfe Waves pattern ("WW") whose features called for an abandonment of any bullish consideration, given that the WW has a reliable history of delivering the blows, much like a coiled animal ready to pounce.
As per definition for this pattern, the 1-4 Line is the profit line, but also one that often acts as a significant counter-trend trigger line.
Compared to the model, which yesterday was offering 1992 as a possible target, today the targets are refined as follows:
1 - TG-1 = 1987.00 - 05 SEP 2014 = Quant-Target; Tends to cause retracements in the Fib order of 0.38.2 to 0.618
and
2 - TG-Lo = 1984.75 - 05 SEP 2014 = Qual-Target: Associated with actual price reversal, in the order of Fib-hyperextension, such that new structural levels are carved at 1.414 to 1.618, or a complete reversal occurs.
In the case of this benchmark, reversal to new structural (historical) levels remain possible, considering that "a cluster of central banking investors has become major players on world equity markets", per FT reports.
OVERALL:
As we watch this pattern unfold to the downside, one would do well to keep an eye on the 1-4 Profit Line, and be open to the possibility of a surprise rallying up to the pattern's 1-3-5 Line underbelly, and perhaps to loftier highs, courtesy of the central banks.
If you remain unconvinced about this WW pattern, see what it did and setting to do with the Nikkei, here:
And for good measure, see what this WW is setting up to do with the Gold, here:
.
Cheers,
David Alcindor
Predictive Analysis & Forecasting
Denver, Colorado - USA
----------------
Twitter: @4xForecaster
----------------
In continuation to yesterday signal of an imminent decline in the e-Mini S&P500, we are now witness to that plummeting fall, and today, we get to possibly witness ES Tumbles-Part Deux.
The technical background that predicated the plummeting fall yesterday was provided by a Wolfe Waves pattern ("WW") whose features called for an abandonment of any bullish consideration, given that the WW has a reliable history of delivering the blows, much like a coiled animal ready to pounce.
As per definition for this pattern, the 1-4 Line is the profit line, but also one that often acts as a significant counter-trend trigger line.
Compared to the model, which yesterday was offering 1992 as a possible target, today the targets are refined as follows:
1 - TG-1 = 1987.00 - 05 SEP 2014 = Quant-Target; Tends to cause retracements in the Fib order of 0.38.2 to 0.618
and
2 - TG-Lo = 1984.75 - 05 SEP 2014 = Qual-Target: Associated with actual price reversal, in the order of Fib-hyperextension, such that new structural levels are carved at 1.414 to 1.618, or a complete reversal occurs.
In the case of this benchmark, reversal to new structural (historical) levels remain possible, considering that "a cluster of central banking investors has become major players on world equity markets", per FT reports.
OVERALL:
As we watch this pattern unfold to the downside, one would do well to keep an eye on the 1-4 Profit Line, and be open to the possibility of a surprise rallying up to the pattern's 1-3-5 Line underbelly, and perhaps to loftier highs, courtesy of the central banks.
If you remain unconvinced about this WW pattern, see what it did and setting to do with the Nikkei, here:
And for good measure, see what this WW is setting up to do with the Gold, here:
Cheers,
David Alcindor
Predictive Analysis & Forecasting
Denver, Colorado - USA
----------------
Twitter: @4xForecaster
----------------
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