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jlantrip

SP, correction still just beginning

Short
S&P 500 Index (SP:SPX)  
jlantrip Updated   
SP:SPX   S&P 500 Index
Trend Analysis Wave Analysis Chart Patterns SPDR S&P 500 ETF (SPY) S&P 500 (SPX500) Market Geometry
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trendanalysis waveanalysis chartpattern spy spx500 marketgeometry
Quite a clear 5 wave down on the SP which is the cleanest of the indexes. Looking like an excellent short entry scaling up to the .786 if we make it there. Whether its an A or a 1 wave down is yet to be seen, but more downside is highly probable IMO.
Comment:
Comment:
Closing in on the .618 as expected, narrative follows on the meeting with trump but its a false support IMO as the cracks in the global economy are becoming more clear. Markets topped in Sept and this correction has a long ways to go. Certainly possible to overperform into the .88 territory but I believe its more probable to see it finish near the 1 to 1 projection of the A wave around 2850
Comment:
Follow through looks good so far, next week in the markets is going to be a tell all bestseller.
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