Wednesday, October 24, 2018

10/24/18 - EOD Update

Been a while. "Life" has gotten in the way and honestly the market over the last several months since my last post was just churning in a wave iv.

I think after breaking out in July this year, it finally looks like wave 3 may have completed. What the market may be doing at the moment is forming wave 4. What form will wave 4 take, i.e. flat, triangle, combo corrective? We shall see.

2520 would be a 38% retracement of wave 3 and bring wave 4 down near the lower levels of wave iv's previous triangle. We'll see if the market is shooting for this level.

SPX - Daily

Tuesday, April 17, 2018

4/17/18 - Update

No change since the last post other than at today's open, the SPX will be gapping back over the 50 day SMA. This will add to the case for the triangle option. We shall see what happens at the upper trend line of the triangle. Keeping an eye out for either wave d next or the beginnings of wave v.

SPX - Daily