SPX500 Long to 2450
My previous target was 2388 (in between 0.5 and 0.618 extension of wave 3-4). I now believe the market will show bullish moves unto 2450 before setting in for a reversal in the second half of 2017. The extreme target for this bullish move can extend to 2567 which is measured move of wave 1 and also 2.414 extension of previous cycle. Historically SPX has failed to reach it's full measured move and thereby I picked the 2450 target. If bearish tendencies persist then the 2388 or a round 2400 target may come in effect.
Hard landing is based on the long term support from multi-year lows, soft landing is based on a combination of .5 retracement and multi-year highs (resistance should act as support)
Hard landing is based on the long term support from multi-year lows, soft landing is based on a combination of .5 retracement and multi-year highs (resistance should act as support)
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.