cguthrie922
Short

Is This Decline A Clue To Something Greater

SPCFD:SPX   S&P 500 Index
Intermediate wave 3 has lasted 67 trading days, but the latest bull run appears ready for a break. I have conducted derivative analysis on all of the movement in this super cycle wave 3 to identify where the next bottom will occur. It appears set to occur by October 24, 2018. The following are potential turning points for this bottom.

I have bolded the most likely levels:

2878.28
2846.32
2844.90
2841.29
2840.19

2830.43
2813.89
2809.40
2778.61

The full analysis is free on my site.
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According to your chart data

2882.17 --------------- .236% Fib
2845.81 --------------- .382% Fib
2816.45 --------------- .500% Fib

Im wondering if today's low is it?
It came real close to .236 Fib

Do you think we go lower?
Reply
@ecramer, rarely is the decline a 23% retracement. The other figures and derivatives still have another day or two of declines on horizon. We should find the bottom by middle to end of next week.
Reply
navinifty cguthrie922
@cguthrie922, is today low can be bottom
Reply
@navinifty, we are in wave 5 right now. the morning drop looks like wave 3 inside of the final wave 5. we should have at least 2-3 more hours before we see the bottom, but it will be today or tomorrow at the latest. VIX options have been great. It is almost time to go long again
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navinifty cguthrie922
@cguthrie922, thanks
Reply
navinifty cguthrie922
@cguthrie922, Can this be the low
Reply
@navinifty, most likely. I wouldn't be surprised if the market gapped up in morning and the gap does not cover for a while. The complete corrective wave has achieved all movement. This does not mean wave 5 will not continue but it is likely over. The market has not achieved a drop of this magnitude in one day for years. The fundamental and not technical traders will most likely see this as the "buy the dip" position and begin buying again. I know the top of the market is coming, quick. Some of the big stocks may not recover from today and the last 5 days as they are already in their bearish declines
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