markrivest

SPX Nearing Next Resistance Area

SP:SPX   S&P 500 Index
My prior posts noted SPX resistance in the 2800 area. This could be hit after the FOMC announcement on 6/13/18
Which is also a new moon - sometimes tops occur on new moons.

In Elliott wave analysis there is always a bearish alternate count to bullish counts.
Illustrated is one of two possible bearish counts that could be complete at SPX 2800. If necessary
I will post the other wave count in a future post.

I still believe the main trend is up with a significant top projection in the 3050 area and at the same time recognize the need to be prepared in case
the stock market changes its opinion.
With the SPX nearing the next resistance zone a possible down turn could begin soon.

I will issue updated posts when necessary. As always if you find this post useful - leave a like. If you are not a follower please join.

Mark
If SPX breaks 2675 soon, I see the the bearish implications of this possible count as very valid.
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