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Will_Wong

SPX: Today's price action confirms wave 4 is not over. FB 1.618,

S&P 500 Index (SP:SPX)  
Will_Wong Updated   
SP:SPX   S&P 500 Index
Wave Analysis
13
2
waveanalysis
200 ma, and FB 2.618 provides support.
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Scrap the bullish option. V-1 coming up.

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Added wave A = Wave C option

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Wave C could be an extended 5-wave down. Wave A=Wave C very likely too.

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A stronger than expected wave (iv) bounce. An iHnS patter developed. If this rally continues, EW might be invalidated. See price targets on chart.

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Bullish alternate count:

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With todays price action, I believe the bottom will be within the zone containing wave A = Wave C or the Feb 09 low.

An alternate is if the 200MA held. Then wave (iii) will be wave (iv) like the earlier update above.

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Adjusted final price target to line up with strong support at the Wave a = Wave C, Wave a = 1.272 Wave C

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SPX Count still intact:

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