Occasionally markets will have turns related to the Fibonacci sequence. (1, 1, 2, 3, 5, 8, 13, 21, 34, 55, 89, 144, 233, - to infinity)
Adding 144 trading days to the January 20, 2016 SPX bottom targets August 15, 2016 as a possible SPX turn day.
Adding 34 trading days to the June 27, 2016 SPX bottom also targets August 15, 2016 as a possible SPX turn day.
Prior to the June 27th bottom, are three smaller examples of the same phenomenon.
Adding 21 trading days to the April 20th peak targets the May 19th bottom.
Adding 13 trading days to the May 19th bottom targets the June 8th top.
Adding 13 trading days to the June 8th peak targets the June 27th bottom.
As of the close on August 19, 2016 the high made on August 15th has held. If this phenomenon continues there could be an SPX bottom on August 25th which is 8 trading days after August 15th.
Or perhaps September 1st which is 13 trading days after August 15th. September 1st also happens to a new moon, occasionally markets turn on new or full moons.
If there is a decline into either of those dates it would probably be about the size of the June 8 - June 27 correction which was 128.90 SPX points. If the next decline has a Fibonacci ratio of 1/1, subtracting 128.90 from the August 15 peak of 2193.8 targets SPX 2064.90 as a potential bottom. The .618 Fibonacci ratio of 128.90 is 79.60. 2193.80 - 79.60 = SPX 2114.20 as another potential area for the next bottom.
Watch the dates August 25th and September 1st, if the SPX is near 2114 or 2064 on either of those days there is a very good chance a bottom could be made.
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Adding 144 trading days to the January 20, 2016 SPX bottom targets August 15, 2016 as a possible SPX turn day.
Adding 34 trading days to the June 27, 2016 SPX bottom also targets August 15, 2016 as a possible SPX turn day.
Prior to the June 27th bottom, are three smaller examples of the same phenomenon.
Adding 21 trading days to the April 20th peak targets the May 19th bottom.
Adding 13 trading days to the May 19th bottom targets the June 8th top.
Adding 13 trading days to the June 8th peak targets the June 27th bottom.
As of the close on August 19, 2016 the high made on August 15th has held. If this phenomenon continues there could be an SPX bottom on August 25th which is 8 trading days after August 15th.
Or perhaps September 1st which is 13 trading days after August 15th. September 1st also happens to a new moon, occasionally markets turn on new or full moons.
If there is a decline into either of those dates it would probably be about the size of the June 8 - June 27 correction which was 128.90 SPX points. If the next decline has a Fibonacci ratio of 1/1, subtracting 128.90 from the August 15 peak of 2193.8 targets SPX 2064.90 as a potential bottom. The .618 Fibonacci ratio of 128.90 is 79.60. 2193.80 - 79.60 = SPX 2114.20 as another potential area for the next bottom.
Watch the dates August 25th and September 1st, if the SPX is near 2114 or 2064 on either of those days there is a very good chance a bottom could be made.