This is an update to my 4/5/17 post in which two downside targets were listed.
The SPX had a bulls-eye hit of the first target at 2337.30 the subsequent rally did not last and as of the close 4/13/17 the SPX was just below the 2nd target of 2329.80. This is where the supposed Minute wave "c" is .618 of Minute wave "a".
Bullish factor: Decline from 2378.70 is choppy with a lot of overlap.
Bearish factor: 60 minute RSI still has no bullish divergence.
Any long weekend increases the chances of event risk.
Within the last week the US has launched 59 Cruise missiles and has dropped the "Mother of all Bombs"
If the US attacks North Korea it is not factored in the stock markets and is bearish.
If China invades North Korea it is not factored in the stock markets and is bullish.
A break below SPX 2322.30 will open the door to 2300- 2280.
Mark
The SPX had a bulls-eye hit of the first target at 2337.30 the subsequent rally did not last and as of the close 4/13/17 the SPX was just below the 2nd target of 2329.80. This is where the supposed Minute wave "c" is .618 of Minute wave "a".
Bullish factor: Decline from 2378.70 is choppy with a lot of overlap.
Bearish factor: 60 minute RSI still has no bullish divergence.
Any long weekend increases the chances of event risk.
Within the last week the US has launched 59 Cruise missiles and has dropped the "Mother of all Bombs"
If the US attacks North Korea it is not factored in the stock markets and is bearish.
If China invades North Korea it is not factored in the stock markets and is bullish.
A break below SPX 2322.30 will open the door to 2300- 2280.
Mark