markrivest
Long

Progress of SPX Minor wave 5 - 5-8-17

TVC:SPX   S&P 500 Index
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Today 5/8/17 the SPX made a marginal new high before pulling back. The decline ended at a .618 retrace of Minuette wave (i).
High probability for more upside action May 9-11.

Possible major top in the area of SPX 2450-2460
Hi Marc, your thoughts on the price action?
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markrivest bassalej
Hi @bassalej,

On 5/9/17 the SPX hit a new high while the VIX made a new low. The VIX almost always has to have a divergence from a bottom before the SPX hits its final high.
This implies SPX going to another new high very soon.

NDX is barely off of its high implies more NDX rally to come.

SPX decline in the last two days is choppy and shallow. Looks like just a small correction.

I think SPX could hit major resistance in the 2450-2460 area. Target date for top 5/18/17.

Mark
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I'm posting intra-day turns on twitter check me out. ESturnbyturn
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I've been playing this current move as the 5th of the 5th wave from 2009. so 3 more to possible top. target looks good.
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