EuroMotif

SPX at or near temporary Top? S&P500 Support Resistance zones

EuroMotif Mod Updated   
FOREXCOM:SPX500   S&P 500 Index
Part of my ongoing analysis of the Stock Market (see links below).

SPX bounced with vigor from the exact zone expected.
The bounce is clearly slowing while hitting resistances.
Expecting a "healthy correction" to recent vertical leg.

2900-2903 may well have been the top for now.
2931-2945 may be tested for end of Impulse wave.
2959-2964 can be a dangerous top with sharp drop.

2961-2864 would be Ultra Bullish bounce to possible new highs.
2836-2840 would be Expectable retrace for Healthy Correciton.
2798-2802 must be Held in order to preserve uptrend movement.

Previous Analysis (click):
SPX topping call May 7th
SPX bottom call Jun 3rd
SPX bounce call Jun 5th


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Comment:
Here we are, at what I thought would be "Likely Top" but Trump is tweeting about the Fed and apparently that gave markets a boost. But lets see if the boost can carry it through resistance.

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Comment:
So after FOMC signalling cuts, here we are at the "Overextended top"
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Comment:
So here we are, after absolutely prefect Fib action back testing previous resistance fib. This is a key moment, break of this support could start a much deeper correction.

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Comment:
Support Broken! Some news came out and Bang! Amazing how news so often "happens" at exactly the right technical juncture.

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