S&P 500 IndexUpdated SPX - Where's the bounce?
Update to the last video. We are at strong technical support with the weekly BB being hit today and the daily BB being hit 5 days in a row. A small bounce is expected at these levels. However, because a number of traders are trapped I don't expect a large rally at this time. A run up to and slightly above 4300 may be about it before more selling. Target is still 4050 area.
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Q's getting some action, close will be important Note
good morning, the breakout held overnight and we are just consolidating as of now. Important numbers at 830. If we breakup, 4315-20 should be the target. If they breakdown, I don't think it would last after open. Note
mistake - target would be 4340Note
on NQ - we may have 5 waves down in which case, a spike up at 830 would complete a C wave and we could have further selling today for at least some of the day to complete the last wave. Tricks towards the bottom/tops are common. Be careful of a false breakup after 830. Note
This is what the count looks like if we have one more wave down from here (likely right now). Note
one more down today would probably bring some sort of capitulation move, but I think one down and then a mild bounce back to 4330 (gap area) is likely for a week or more.Note
any rally at open should get sold into. should be a bad day for bulls if i'm correct. one more down would get through the 18ma weekly, but i don't think it would last long. a wick through those important ma's are very common.Note
open possibility, may not happen Note
looks right as of now Note
one more push up is possible - complex correction to confuse the playersNote
that should be it, if wrong I will update. Note
no they are going to try and break the line - a stab above the last high may be worth watching for a short entry. Note
complex correction but 5 minute rsi needs to be reset. higher still likely before a down move. Note
I expect a move down from here, but I don'ts think it will last. 4th waves (if this is what it is) are very confusing. I'm out for the day - see you later. Note
taking a quick break and checking the markets. OK, so the move up was more than I expected (and I should have expected that). Now we're getting the selling i thought would come, however, we could find support at the breakout of 4280 and continue up. Underneath that level and we're going for one more low tomorrow. I can't really tell it could go either way. Note
another way to look at it Note
A video looking at the bullish Alternative which I think could be setting up into next week. New Video - 
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