markrivest
Short

SPX Still Completing Ending Diagonal Triangle

SP:SPX   S&P 500 Index
243 5 9
My post on 12/14/17 had a question mark after the supposed wave "IV" of the Ending Diagonal Triangle. The reason was because of the small size of the supposed wave "IV".
Today there's an exclamation point after wave "IV" because it bottomed in between two Fib support areas.
The brown line at 2651.46 = .50 of wave "II".
The blue line at 53.76 = .382 of wave "III".
Upside target for today remains 2675-2678.

Mark
I agree an ED might be forming, but is likely bigger than your chart. Perhaps 'a' is at the first peak as you suggest, but 'c' might just now be printing in the 78/85 area, followed by another dip into Christmas and the last rise into the new year and spilling over into the first few days of January. My own price target area is 2690/2710 so a larger ED would likely reach that target area. The tax bill should pass, pulling the last few remaining investors into the market. But it is often better to travel than to arrive...
Reply
@markrivest Nice call!
Reply
So It's a long strategy... not short
Reply
markrivest JackyQZ
Hi @JackyQZ,
When I did the post just before the open 12/15, the SP futures were already up several points. Many people on this site may not see this post until later in the day.
From a risk/reward point of view its better to wait and see if the SPX can reach 2675.
If shorts can be entered at that zone there is a good chance to catch 60 to 70 SPX points on the downside in the next 3 to 5 trading days.
This is better than scraping up a few upside points on an SPX day trade.
I will have an update on the SPX 12/16/17

Mark
Reply
JackyQZ markrivest
@markrivest, ok roger that... keep following...
Reply
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
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 Contact Support Ideas Published Followers Following Private Messages Chat Sign Out