S&P 500 IndexShort
SPX is looking for the 5th down or completing the C wave down
Im not an EWT expert but this looks to me like completing the 5th down or the C wave of the bigger A wave down!
THIS IS THE BEAR MARKET!!! 6th month and rolling now. All those 5500 coo-laid smokers were destroyed 6 months straight!
Typically the bear market is lasting 2 years, I expect the maj low in Q1 next year. Its 6th onth now, so this move down should follow by a very strong rally soon (Mar like)
The FED is on Wednesday and I will not be in short or be short on that day or maybe even since Tuesday!
We closed below 3909SPX on Friday, targets 3850 or lower (warning email was send to my email list people second part of Fri).
ES already below 3855
3855 is the maj resistance now with following 3885-4k zone.
I got several targets for this move down:
- 3805-09SPX maj support
- 3765-80SPX
Some other calculations are pointing for much lower levels!
- 3665SPX level and,
- 3555!!!
Something to be open mined to. Ideally we hold 3800 handle, below is very bed!
Notes from the chart
4170-90SPX is the main resistances now
Resistance - 3855; 3885-4kSPX (must hold for continuation lower)
- Low target for tomorrow 3805-09, 3780SPX - Buy if seen in am, dont buy if we see higher first
- 3818-20SPX mid support,
- 3805-09 and then 3765-80 zone is the maj support zone
Buy zone for tomorrow with stops!
- 3805-09SPX
- 3850 and 34 must hold on any try or it falls apart (main support, not expected to get hit any time soon)
Short
- no short on the FED day or even after Tuesday
- 3855SPX and 3885-4k, no short above 4025
- Low (intraday) was on the 12th (about to get renewed);
- Long from 3855-65SPX zone (email was sent when the price was at 3867-68SPX)
Larger ABC pathway down into Oct/Nov low or more of the year is in play imo Final target in 3000-3200SPX zone
Potential 5 waves down is forming! Next mid Jun low can be lower low! Have to be careful with sizing
THIS IS THE BEAR MARKET!!! 6th month and rolling now. All those 5500 coo-laid smokers were destroyed 6 months straight!
Typically the bear market is lasting 2 years, I expect the maj low in Q1 next year. Its 6th onth now, so this move down should follow by a very strong rally soon (Mar like)
The FED is on Wednesday and I will not be in short or be short on that day or maybe even since Tuesday!
We closed below 3909SPX on Friday, targets 3850 or lower (warning email was send to my email list people second part of Fri).
ES already below 3855
3855 is the maj resistance now with following 3885-4k zone.
I got several targets for this move down:
- 3805-09SPX maj support
- 3765-80SPX
Some other calculations are pointing for much lower levels!
- 3665SPX level and,
- 3555!!!
Something to be open mined to. Ideally we hold 3800 handle, below is very bed!
Notes from the chart
4170-90SPX is the main resistances now
Resistance - 3855; 3885-4kSPX (must hold for continuation lower)
- Low target for tomorrow 3805-09, 3780SPX - Buy if seen in am, dont buy if we see higher first
- 3818-20SPX mid support,
- 3805-09 and then 3765-80 zone is the maj support zone
Buy zone for tomorrow with stops!
- 3805-09SPX
- 3850 and 34 must hold on any try or it falls apart (main support, not expected to get hit any time soon)
Short
- no short on the FED day or even after Tuesday
- 3855SPX and 3885-4k, no short above 4025
- Low (intraday) was on the 12th (about to get renewed);
- Long from 3855-65SPX zone (email was sent when the price was at 3867-68SPX)
Larger ABC pathway down into Oct/Nov low or more of the year is in play imo Final target in 3000-3200SPX zone
Potential 5 waves down is forming! Next mid Jun low can be lower low! Have to be careful with sizing
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