markrivest

September 7, 2016 Could Be an Important SPX Secondary Peak

INDEX:SPX   S&P 500 Index
92 1 2
My first post on Fibonacci time cycles illustrated that a Fibonacci 144 trading days added to the SPX             1/20/16
bottom targeted the 8/15/16 peak. Adding 144 trading days to the marginally lower 2/11/16 bottom targets 9/7/16 as a possible turn date. Adding a Fibonacci 3 trading days to the last Fibonacci cycle day of 9/1/16 also targets 9/7/16.

On 9/6/16 the NASDAQ made a new 2016 high unconfirmed by the SPX             and DJIA             which if holds is a very bearish signal.
A break below SPX             9/1/16 bottom at 2157.09 could be very bearish , opening the door to reach SPX             2120 - 2100 zone in one week.
Watch open of 9/7/16 for a possible SPX             peak in 2187-2188 area.
Mark

If the second peak is lower than 2193.81 (8/15), it could be potential start point of descending B Wave.
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