SPX SHORT TERM LOW 2180, EXPECT UPSIDE 2437-2472 & HIGHER
SPX 500 from 3394-2180 has come down in 3 waves call them 1,2,3 or a,b,c. 1 st for the short term count using 1,2,3 market still requires a 4th and 5th wave to complete.
If its the 4th wave then upside will be capped between 2670-2710, then down for the 5th wave to lower price level of 2135-2050, a bit extreme however not impossible.
if is an A,B,C from 3394-2180 then the upside shall also be(a,b,c) in the price range of T1= 2540-2660, T2= 2660-2780, or upto T3= 2770-2930.
from the above 2 options should the prices exceed 2700 then expect upton 2900's or even higher into 3000's or 3100's.
break below 2275 then expect price to drop down to 2180 or lower to 2135 and upto 2050, line in sand for now.
prices will be volatile for the next few months and plenty of trading setups will unfold.
If its the 4th wave then upside will be capped between 2670-2710, then down for the 5th wave to lower price level of 2135-2050, a bit extreme however not impossible.
if is an A,B,C from 3394-2180 then the upside shall also be(a,b,c) in the price range of T1= 2540-2660, T2= 2660-2780, or upto T3= 2770-2930.
from the above 2 options should the prices exceed 2700 then expect upton 2900's or even higher into 3000's or 3100's.
break below 2275 then expect price to drop down to 2180 or lower to 2135 and upto 2050, line in sand for now.
prices will be volatile for the next few months and plenty of trading setups will unfold.
