markrivest
Short

Updated SPX shorting targets

TVC:SPX   The S&P 500 Index
153 0 3
My last post noted a potential shorting target in the SPX             2150 area. Today 10/20/16 the SPX             declined and looks as if it is forming an Elliott wave Horizontal Triangle. If its complete at 2138.70 this would be the starting point for a post triangle trust up. Usually the thrust is equal to the widest part of the triangle which in this case is 24.60 adding this to 2138.70 targets 2163.30. This is very close to the .618 retrace of the move down from the 2116 high at 2193 to the recent low at 2114.

A lower possible target is in the SPX             2153.90 area which is .618 of the widest part of the triangle added to 2138.70.

Mark
United States
United Kingdom
India
Deutschland
France
España
Italia
Polska
Türkiye
Россия
Brasil
Indonesia
Malaysia
Việt Nam
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Priority Support Contact Support Ideas Published Followers Following Private Messages Chat Sign Out