S&P 500
The counter-trend sequence as minor wave ii. two in progress from the mid-October high of 1464.02 is shown unfolding into a double zig zag sequence of minute degree, a-b-c-x-a-b-c. The first zig zag completed at 1343.35 and is now being followed by wave x counter-trend rallies with idealised upside to 1451.43. A reversal signature from […]Continue reading «S&P 500»
The S&P responded positively from last Friday’s lows of 1343.35 confirming a counter-trend advance has begun as wave ‘X’. Basis the price development so far, it would seem that a deep retracement will ultimately unfold – the last days’ attempt to the fib. 38.2% resistance level at 1388.00+/- whilst unfolding from 1343.35 into a sub-hourly […]Continue reading «»
S&P 500
The S&P’s protracted decline during the last several weeks has confirmed the completion of the June upswing at the 18th October high of 1464.02 as a truncated 5th wave. This means that a counter-trend sequence to the entire 1266.74-1464.02 advance is underway which suggests a continued decline during the next couple of months. Latest: short-term […]Continue reading «S&P 500»
S&P 500
As highlighted in the last update, the S&P’s failure to respond from the 1388.00+/- area has confirmed the completion of the June upswing at the 18th October high of 1464.02 as a truncated 5th wave. This means that a counter-trend sequence to the entire 1266.74-1464.02 advance is underway which suggests a continued decline during the […]Continue reading «S&P 500»
With this week’s break below the 1403.28 low, the S&P has triggered additional downside potential to 1389.44 which has been already achieved with yesterday’s low of 1388.14. A reversal from there is necessary to validate the continuation of the larger upswing that began from the June low of 1266.74. Failure to respond from the 1388.14 […]Continue reading «»