In my 3/17/18 post I speculated that the DJI could be forming a Elliott wave - Horizontal Triangle. The SPX from the 2/9/18 mini crash bottom appears to have a different pattern, and forming a series of "ones" and "twos" to the upside. Currently in the second wave "two" down.
Very strong Fibonacci evidence indicates the SPX could find powerful support in the 2699 to 2706 area.
A.382 retrace of the entire move from 2532.69 to 2801.90 is 2699.03 very close to chart support at 2701.74 and round number support at 2700.00
A .618 retrace of the move from 2642.32 to 2801.90 is 2706.37
From 3/14/18 to 3/16/18 the SPX appears to have completed a Horizontal Triangle. the supposed Sub Minuette wave "a" is 57.52 points. The end point of the Horizontal Triangle is 2757.80 - 57.52 = 2700.28 target
My last post mentioned a Fibonacci turn cycle due on 3/19/18. If the SPX goes down on 3/19/18 its possible there could be a bottom that's above the powerful support zone. Perhaps in the 2720 to 2730 area.
If the SPX can decline down to the 2699 to 2706 area it will likely take more than one trading day. The FOMC announcement is on 3/21. This is the more likely date for the SPX to reach the powerful support zone at 2699 to 2706.
... powerful support in the 2699 to 2706 area. Yes ! Very powerful, like a house of cards.
RHTrading
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Well done my friend! I had a similar chart a few days back. Takes a long time to tweak everything and get it all just perfect. It's nice to see the analysis play out as planned as it usually doesn't. I'm very impressed and I usually don't comment on other posts.