Spx closed at 3060 end of May and continued its ascend into June ending the 1st week at 3188 (intraday high 3212) and is there still more for the upside or does the downside start from here on!!!
Recap from 2180: 2180-2641=1, 2641-2431=2, 2431-2890=3, 2890-2724=4, 2724-2972=A, 2972-2780-2953-2766=B, 2766-3068?=C or still higher!!!
2724-2972-2780= 3030(100%),3098(127%),3185(162%), price has exceeded 3030 therefore 3098-3185 still active for completion of C
From 2766-2980-2911=3125(100%),3183(127%),3257(162%)... these price zones are still active as is the longer term retracement levels from 3393-2180 & Double top at 3138.
Price from 2766-2980-2911/2908=3212 is above the 127% extension & short of the 162% extension at 3257... 3250-3270 is a Strong resistance zone.
Resistance price zone= 3240-3280!!!
3256= 88% 3393-2182.
2724-2972(A=250pts)-2780/66(B=200PTS)=3280-3266(C=500pts), 2766-2980-2908=3257(162%), 2182-2641= 3247(227% extension).
From 2766-2980(214pts)=1, 2980-2908(72pts)=2, 2908-3068(160pts)=i, 3068-2999(69pts)=ii,2999-3212(213pts)=iii, 3212-??=iv, iv=3212-70/80=3142-3132 zone then the 5th wave higher from 3130-3140= 3240-3280!!!
this internal count can be incorrect as it has subdivided therefore caution is required as it is near Resistance zone 3240-3280.
3130-3140=Support zone, break below here then expect next S=3100-3060... break below 3060 caution should be warranted.
2724-2972=A/1, 2972-2780-2766=B/2, 2780/66-3212 OR HIGHER =C/3,IF c gets to 3240-3280 or even from 3212 then D/4= 200pts 3212-200=3012.
SUPPORT= 3140-3130,RESISTANCE =3240-3280.
Recap from 2180: 2180-2641=1, 2641-2431=2, 2431-2890=3, 2890-2724=4, 2724-2972=A, 2972-2780-2953-2766=B, 2766-3068?=C or still higher!!!
2724-2972-2780= 3030(100%),3098(127%),3185(162%), price has exceeded 3030 therefore 3098-3185 still active for completion of C
From 2766-2980-2911=3125(100%),3183(127%),3257(162%)... these price zones are still active as is the longer term retracement levels from 3393-2180 & Double top at 3138.
Price from 2766-2980-2911/2908=3212 is above the 127% extension & short of the 162% extension at 3257... 3250-3270 is a Strong resistance zone.
Resistance price zone= 3240-3280!!!
3256= 88% 3393-2182.
2724-2972(A=250pts)-2780/66(B=200PTS)=3280-3266(C=500pts), 2766-2980-2908=3257(162%), 2182-2641= 3247(227% extension).
From 2766-2980(214pts)=1, 2980-2908(72pts)=2, 2908-3068(160pts)=i, 3068-2999(69pts)=ii,2999-3212(213pts)=iii, 3212-??=iv, iv=3212-70/80=3142-3132 zone then the 5th wave higher from 3130-3140= 3240-3280!!!
this internal count can be incorrect as it has subdivided therefore caution is required as it is near Resistance zone 3240-3280.
3130-3140=Support zone, break below here then expect next S=3100-3060... break below 3060 caution should be warranted.
2724-2972=A/1, 2972-2780-2766=B/2, 2780/66-3212 OR HIGHER =C/3,IF c gets to 3240-3280 or even from 3212 then D/4= 200pts 3212-200=3012.
SUPPORT= 3140-3130,RESISTANCE =3240-3280.
3233-3020/3000 =D/4TH WAVE completion then 3020-3000 to either double top or higher to complete the 5th wave.
break below 2980-2950 then retest of 2720-2700 or lower.