markrivest

SPX Opening Call 3/22/17

TVC:SPX   S&P 500 Index
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Today 3/22/17 could be a choppy day. The best Elliott wave count has the SPX possibly forming an Ending Diagonal Triangle from the high at 2360. If so there could be a small rally after the 9:30 AM -ET open then a decline below the low 3/21/17 There is Fib support in the 2340 -2337 area.

If the SPX bottoms in that area there could be a rally up to resistance in the 2360 area.

SPX 2280 -2300 remains the price target for Minor wave 4 bottom, bulls-eye target day remains 3/27/17.

Mark

Mark
Very nice analysis! Somehow I feel that the lowest of 3/22 may be the lowest in a short term perspective.

Reply
Hi @zhilin,
Thanks for the compliment.
Yes there could have been a bottom on 3/22 because at a minimum it is possible to count 3 waves down from the SPX 2401 top.
The open on3/24/17 could give us clues as to near term SPX action.
I will have a new post before the open on 3/24/17.

Mark
Reply
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