Schnauzel
Long

SPX - Short term bottom is in place

TVC:SPX   S&P 500
(This is an update from my previous post)

With most oscillators now oversold, the stage is set for the last leg of the second wave. This C wave, part of an irregular flat construct, will at minimum erase the preceding B wave, and probably overshoot it. A . 618 retracement should provide a reasonable target. If the low is indeed in place, 2160             is the number to watch. In terms or timing the A wave lasted 8 trading days, so did the B wave. So we can expect the C wave to last somewhere from 8 to 16 days.
Although this count does not rule out a test of today's low (11/1), which would create a double bottom, anything lower than say 2090 would make me doubt of its validity. On the upside, the yellow line (it's continuation) should prove to be the first resistance on our way to 2160.
Reply
United States
United Kingdom
India
Deutschland
España
France
Việt Nam
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
Malaysia
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Support Priority Support Report Issue Ideas Published Followers Following Private Messages Chat Sign Out