WallStScalper

SPX still in an ED (Ending Diagional) Update!

SP:SPX   S&P 500 Index
394 2 3
5th wave can fail to reach the 3rd wave peak - in the SPX             case 1730.

A failure to break above 1730 now that the SP-500             has reached 1721ish will likely send the SP-500             price falling rapidly back down toward were the ending diagonal began at 1560.

The maximum ED target for completion is at 1749. To the up-side a move above 1749 would invalidate the ED count.
To the down-side watch for a move below the SP-500             50-day SMA (1679) to signal that the ED is complete.

As always.... time will show!

Safe trading Gents!
BM

Music at work: https://www.youtube.com/watch?v=DeumyOzKqgI
That´s my idea.......
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I am watching the same thing, Today the spx printed 1745 1-18 I am looking for a slight up move on monday to 1647-8 to short. Looking for a test of 1710 with a breakdown targeting 1686. Below that brings your 1600 into target.
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