wolfah
Short

SPX another...

SP:SPX   S&P 500 Index
SPX finished waves 2. Next TP 2669 (1.618) and below for wave 3.
See details below.
Comment:
Comment: Update 23-03-2018. See below on 2h.
Comment:
Comment: The magenta target of 1,618 1+3 seems to me unrealistic, because there is still a green wave 3 and 4 and 5 to be built! See below...
Comment:
Comment: Same on 15min scale. SPX is trading in a wave 3 (green). A possible tp for this wave could be 2565 (1.618 of wave 1). Therefore, the end of this final leg 4c would be 2,618 or 2525!
Comment: TEST: In a ABC-correction-pattern (FLAT), the last leg C often terminates at 1,000 of wave a (=2460) or 0,618 of wave a (2590). This would more or less correlate with the above picture (2590 versus 2525)! On the other hand, the mediom term trend of the SPX (brown trendline) has been broken yesterday! This givves room for further speculation (Bear trap=?).
Comment:
Comment: Fib levels for a wave 4 are 0,236 (2621) or 0,382 (2644). It is important to note, that SPX is at 0,618 of the wave a (red, lower left corner), what could stand for a "FailedFlat"-pattern. BUT this pattern is very rare and would not match with the counts for this leg "c", SPX is actually in. This is, why I see more bearish potential, after having finished wave 4 (2days)!
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