Geofftv1

SPX - Nearing an apex?

SP:SPX   S&P 500 Index
This chart suggests that SPX is nearing an apex at aroubd 2950 ish!
Waves 2 and 4 of this impulse show alternation and good time relationship.
Wave 5 may be taking the form of an ending diagonal on falling RSI .
This coming week in Oct may set the scene for increased volatility .
Good luck
I'm curious if you could put your black (3) in between your blue 3 and 5 and label this new decline as the start of black (4), probably a triangle.
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Geofftv1 4thewin
@4thewin, Thanks for the question, this would be valid BUT the size of the current decline would make
It improbable as it would be way out of proportion to wave (2). The current decline is in my view the start
Of a much bigger decline.
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