SPX Opening Call 3/21/17

TVC:SPX   S&P 500 Index
289 8
The recent SPX peak at 2390 appears to be Minute wave X of a developing Minor wave 4 down.

The decline from SPX 2390 looks like a leading Diagonal Triangle. If the SPX can rally to the 2380 area in the first hour of 3/21/7 this could be an excellent short opportunity.

Minor wave 4 bottom target date is 3/27/17 price zone 2280-2300
Mr Rivest, whats the best email to join you all. Mine is You mentioned but I was wondering if you have a paid service that has elliot wave counts for RUT which is what I mostly trade. Thanks. Your calls on SPX have been dead on!!!!! im new to EW so it helps to know people who actually know what hte heck they are talking about
markrivest bassalej
Hi @bassalej,

Thanks for the compliment. I don't have a paid service. The RUT follows the SPX about 80% of the time so If you follow my SPX counts it should be effective for the RUT most of the time. Todays is a great example. You could have shorted RUT on the SPX open and had a profitable trade.

SPX will probably continue lower into the target date of 3/27/17 in the 2280-2300 area.

bassalej markrivest
@markrivest, thanks for your reply
One difficulty I have is that I don't daytrade! Are use vertical spreads that I put on 40 to 50 days till expiration.
For example on the Spx, after the 27th what is expected? I know no one knows the future for sure but what's the anticipated trajectory. Not sure if I'm making sense . That's why I wanted to email you so I I can better explain the way I trade and you may have suggestions to me on how to use your counts. Thank you very much
Mark,great work
Hi @DeanT,

Thanks for the compliment.

This morning call was textbook , a rally up to SPX 2380, and then a quick 10 handle decline to SPX 2370 thus far this morning
Completely spot on analysis by Mr.Rivest !

As a trader, I cannot emphasis to the trading community at large how valuable Mr. Rivest's work really is.

Thank you

markrivest The_Unwind

Thanks for the compliment. Glad I can help.

TheSwinger The_Unwind
@The_Unwind, I agree. His work on the application of Elliot Wave Theory is extremely valuable. It's priceless. I look forward to seeing more of his work and learning from such talent. It's something that I've been working on for some time now.
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