Wednesday, March 15, 2017

3/15/17 - EOD Update

No change on the SPX other than the possibility that wave (iv) is complete. As mentioned yesterday, price has retraced enough but we will have to see if new highs can be made. Otherwise, leave room for more time for wave (iv).

SPX - Daily

BAC may be working on completing wave (3). If wave iv of (3) is complete, I am projecting wave v near 26.6x. That would make wave v *.618 wave i.  

BAC - 60 Min 

Daily shows negative divergence so leave room for the completion of wave (3). A break below 24.00 would confirm that (3) is complete and (4) is underway.
BAC - Daily

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