Geofftv1

SPX - Update.

SPCFD:SPX   S&P 500 Index
Following on from my SPX updates.
Intermediate wave (1) black finished on 11th Oct and the wave pattern since then has multiple options from an EW
perspective!
This charts suggests that SPX is in a typical A,B,C correction which may reach the .618 fib level or possibly close the
open gap at 2880. At present SPX looks to be in a possible B wave and taking the form of a descending triangle?
If incorrect SPX may rapidly decline early next week in intermediate wave (3) BUT if the bulls have any steam
left one more push higher may occur.
Good Luck
Comment: I think the current wave down is actually a 5th wave which if correct will
End around 2621 and the 78% fib.

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