SPX decline targets: 1730 or 1576.

FX:SPX500   S&P 500 Index
763 1 13
Hi All,
Here's an update on SPX             development. The expanding leading diagonal is intact and is developing slowly but steadily. If my analysis is correct we should by now have entered ithe final 5th wave of the decline, specifically it's C-part where the most interesting stuff should happen. If all is right, the decline should continue during the remaining two weeks of the year and should yield a substantial nr of pips to those who have shorted this instrument.

I have two possible targets in mind, and they are shown on the chart along with the explanation. For now it is impossible to tell whether the 1576 targets will be hit or we'll just stop at approx. 1730. We need to watch the development of the trend carefully for now. I'll keep updating this chart when things start to evolve.
Similar view, I'm short and aiming for at least 1850.
+1 Reply
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