Updated

SPX correction done? stock markets to rebound?

I am thinking the correction is either 'done' or is due for at least a strong leg back up.
The perfect sign of a bottom would be a well formed impulse wave (12345) off the bottom
I drew the two mostly likely paths for such an impulse wave, and will gauge further as price moves.

Monday looked like possible ''capitulation'' at the bottom with a strong bounce.
There has also been Trump related news about the 'new' China tariffs, which were clarified to not be new but just restatement of previous stance.

Also, the move down now looks more like an ABC correction rather than a 12345 impulse down.
Thus I am starting to re-buy some select stocks at opportune moments.

Note

SPX making some good progress along planned path

There is a 4.618 fib that produced a small dip. That fib comes from longer time frame (extensions since Trump's election)

Just need to break above that and then the target for wave 3 looks to be sight

Note

SPX approaching the highest target I had plotted. There should be strong resistance here, but let see how bull it is based on the mid-Term elections

Note

And here we are, daily closed at the high, very bull

not sure if it will even pull back here, it might just blow through

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SPX has a lot of reasons to stop here, but a blow off top / bull trap a little above seems likely

EuroMotif

the Golden Ratio is my Religion
the Trading View is my Nation
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EuroMotif

the Golden Ratio is my Religion
the Trading View is my Nation
the Moderator Tag is my Flag