SPX EOD 18/04/2016 S&P 500 US On the trading day of 18/04/2016 after initial decline till 2073, index bounce & violated mystop loss 2088 & thus it proves that my earlier minor wave counts were totally wrong. Index made new high 2095 almost & so following are the best possible wave counts now & resistances are shown on the chart
On the trading day of 19/04/2016 index bounced up to our first resistance level 2104 & then declined till 2091 & then again bounce till fibbo level 78.6% 2101 & then consolidate for the rest of the day to close at 2100.
So now if this 2104 high holds as a resistance then index retracement on down side probabilities are high.
So let us see what happens in coming few trading sessions.
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SPX: EOD 22/04/2016
TILL SPX AGAIN CROSSES 2111 I THINK BEARISH OPTION IS OPEN.
FOLLOWING ARE THE WAVE COUNTS AT THE END OF THE DAY 01/04/2016 ON 15 MINUTE CHART: DOW & SP ARE MAKING NEW HIGH OF CURRENT RALLY & WILSHIRE WHICH IS 5000 SHARE INDEX NOT MAKING NEW HIGH. I FEEL IT’S A DIVERGENCE & IT IS IN LINE WITH CURRENT ADVANCE DECLINE RATIO WHICH IS OF BROADER MARKET
DOWN LOAD CHART AT
wordpress.com/post/amgonifty.wordpress.com/120
FOLLOWING ARE THE WAVE COUNTS AT THE END OF THE DAY 01/04/2016 ON 15 MINUTE CHART: DOW & SP ARE MAKING NEW HIGH OF CURRENT RALLY & WILSHIRE WHICH IS 5000 SHARE INDEX NOT MAKING NEW HIGH. I FEEL IT’S A DIVERGENCE & IT IS IN LINE WITH CURRENT ADVANCE DECLINE RATIO WHICH IS OF BROADER MARKET
DOWN LOAD CHART AT
wordpress.com/post/amgonifty.wordpress.com/120