From the SPX all-time high on 8/8/17 the decline has taken the form of Elliott waves one's and two's down.
If this count is correct next week 8/28/17 to 9/1/17 could see what is called an Elliott third of a third down.
This type of wave is usually very powerful an steep. The SPX could reached the important support area of 2322 this week.
I still suspect this support to be broken, my prime date for a mini crash bottom is 9/11/17
Secondary mini crash bottom date is 9/20/17 FOMC meeting.
Mini crash bottom price zone is 2120 to 2160.
Mark
If this count is correct next week 8/28/17 to 9/1/17 could see what is called an Elliott third of a third down.
This type of wave is usually very powerful an steep. The SPX could reached the important support area of 2322 this week.
I still suspect this support to be broken, my prime date for a mini crash bottom is 9/11/17
Secondary mini crash bottom date is 9/20/17 FOMC meeting.
Mini crash bottom price zone is 2120 to 2160.
Mark