SPX Could Plunge to 2700 - 2725

S&P 500 IndexTVC

Description

⋅ Jun 6, 2019 11:26 AM

The US stock market rally for the last two days may look powerful, its not.
Yesterday the NYSE Composite A/D line went down.
Today the S&P E-Mini is approaching an area of chart resistance.
There are Bearish RSI divergences on intraday S&P E-Mini.
SPX could quickly fall to the 2700 to 2725 area by 6/7/19 or 6/10/19.

Mark

Chart Patterns

Comments

DaddySawbucks

⋅ Jun 6, 2019 1:18 PM

Ty vm for post updates. IMO the Bear campaign is not over; agree + expect lower soon. I see this rally as a 4th EW in 5-wave down impulse now.

Mausty

⋅ Jun 6, 2019 1:18 PM

thanks for the update

judejames

⋅ Jun 6, 2019 11:30 AM

yes it can but makes no sense to taking it down before fomc.

markrivest

⋅ Jun 6, 2019 11:37 AM

@judejames,

Hi
Why does going up from 2728 in two days, which is also before the FOMC make sense?

Mark

judejames

⋅ Jun 6, 2019 12:06 PM

@markrivest, lol gud one.

judejames

⋅ Jun 6, 2019 12:34 PM

@markrivest, i know it can be different this time but if u see the weekly chart of dec, this is a complete deja vu. that implies more upside before we crash. at least till fomc.

markrivest

⋅ Jun 6, 2019 12:40 PM

@judejames,
Hi
Thanks for the comment. I have very tight price and time targets we could have answer in one or two days.

Mark