markrivest

SPX on path for correction bottom 2100-2120 on 09/01/16

INDEX:SPX   S&P 500 Index
97 0 3
In my first post I noted a Fibonacci time cycle due on 09/01/16 which also happens to be a new moon .
Todays             post examines two Fibonacci price coordinates that indicate a zone for a likely correction bottom.
A Fibonacci .236 retrace of the entire bull move from February 11th to August 15th targets SPX             2103.26
A Fibonacci .382 retrace of the move up from the June 27th bottom to August 15th targets SPX             2116.59 giving a broad target zone of 2120 to 2100.
The wild trading moves on 08/26/16 took out an important double bottom in the SPX             2169 area, this opens the door for more downside action very soon.
September 1st is still the most likely day for a bottom.
I will have follow up posts on this subject later this week.

Mark
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