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Geofftv1

SPX - 4 Hr Chart Idea.

Short
S&P 500 Index (TVC:SPX)  
Geofftv1 Updated   
TVC:SPX   S&P 500 Index
Wave Analysis
6
0
waveanalysis
Given the strength in the SPX I think that a double zig-zag OR Flat may be under way W,X,Y (red) on the chart.
The X wave is taking the shape of a double zig-zag and possible targets are 2901-2906.Good Luck
Comment:
Correction , targets are 2491 to 2496
Comment:
SPX looks like it is making an extended FLAT with a DZZ forming the B wave. Target is around 2510 which is Wwave = Ywave.
snapshot
Comment:
Note - ATR is diverging from its downward trend which may indicate the end of this impulse wave is near.
snapshot
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