I still have the above chart as the most probable path for the SP-500 the coming years. One thing to watch: The Monthly ADX is above 40, a drop below 40 will issue a longer term sell signal. I will also be watching for a rollover from this indicator.
Hi,
ReplyDeleteIs SPX due for correction or going way up ? Bit confused . Please update. Also I see something weird. Both FB and SPX moving in tandem.
FB completing correction and due for more down I guess.
thx
Both. SPX is due for a correction, which would be white wave iv on the chart. There are currently two fib confluences to watch, one at 1715 and one at 1600.
ReplyDelete1715 area: wave iv = .236*iii, wave iv = .618*ii also contains the previous fourth wave
1600 area: wave iv = .382*iii, wave iv =1*ii
We should turn up again near one of those levels.
Hope that helps.