S+P 500/ Nasdaq 100/ Russell 2000 KEY REVERSAL 8/8/17

• [*S+P 500 had a KEY VERY IMPORTANT REVERSAL on 8/8/17, trading as high as 2490.87,
  before REVERSING and dropping 20 Handles to 2470, closing at 2474.92
  
  Both the $NASDAQ 100, and the RUSSELL 2000 ALSO had exact same PATTERN REVERSALS, easily defined
  with both $ NDX and $RUT FAILING to make new highs, setting up confirmed divergences TOPS below TOP's in both Indices.
  
  This REVERSAL should set up a CONTINUATION PATTERN
  with the S+P next targeting MAJOR SUPPORT at 2450, the $NDX 5900, and the Russell 2000 1400.
  
  This REVERSAL, off of all time highs in the S+P could act as the trigger, the first crack in the market
  for a PANIC TYPE SELLOFF EVENT, a MINI CRASH later this Summer/Fall.
  
  THE_UNWIND
  

Comment:

S+P just BROKE MAJOR SUPPORT at 2450, 1150 am Aug.10, New York time
as I had said in my earlier post would happen if 2470 was violated.

Yesterday's snap back rally just above 2470, set up a weak double top
which was violated on today's open.

If 2450 is violated on a close before the weekend,
WAR CONCERNS ESCALATING WORLDWIDE,

then expect a test of S+P 2400 MAJOR SUPPORT

The COMPLACENCY of WALL STREET this summer is now GONE.

THE_UNWIND