EuroMotif

SPX at key Decision Point at end of Week: Dip Done? more Down?

FOREXCOM:SPXUSD   US SP 500 CFD
Part of my ongoing analysis of SPX movements (see links below).

Time of this posting is Friday, before New York open.
Today's action could set the tone for rest of summer.
Dip may be done, but very possible another leg down.

3230-3232 is the KEY Resistance for today.
3193.46-47 could be a strong support if drops.
3172-3177 needs to hold if bull run to continue.

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Previous Analysis:
Jan 16: Call at/near The Top <= Must See
Mar 10: Trump Impulse calls Bottom <= Nailed it!

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Big Picture of the Crash
Previous Milestones Mapped:
Oct 11 2018: Top Warning
Nov 18 2018: Correction Mapped
May 07 2019: Top Warning
Jun 03 2019: Bottom Signal <= Must See

I also plot Forex and Crypto, see my TV Profile Page.
Comment: Very Cool!

Just after posting, we hit the resistance and definitely NOTICED it Regardless of what happens here, that acknowledgement is a HUGE clue that all fibs are still valid, and that zones above or below are now even more dependable!

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Comment: the Resistance is REAL

Double Ping and now a dip still PRE-market here, so low volume helps hold the zones.
But gotta love the precision that fibs give us.

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Comments

I think this market has the momentum for upward. But, eventually, it will fall i assume.
Reply
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