SPX is now in a falling wedge after the H&S pattern. Looks like it found support at the top of the tiny gap. Monday we could fill the gap then break out of the falling wedge for a short Santa Rally. Then a much Larger decline in a Elliot Wave Three . Might just be a New Year Sell Off.
SPX broke downward through the rising wedge support . It is now in a bear flag pattern failing to retest that wedge support. The pattern has formed a lower high , I'm looking for a candle close under 3918 for a lower low which confirms Trend Change. There is a sizable gap below from 3862 to 3748 . A Big week with data coming out and SPX could whipsaw in both...
Rising wedge to falling wedge with strong Falling trend Lines. Each Cycle shows approximately 20% drop from the highs 15% rise from the low of the cycle. Expecting near 3200.
