[9:34 PM Update]
Just something to think about.
EOD Update
Earlier today I tweeted the near term game plan and so far the market is on track.
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| SPX - 10 Min |
I can't say for sure if wave b is complete here but it surely looks like a bear flag as well as a head and shoulders top.
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| SPX - 30 Min |
Options black, blue and pink are calling for a third leg down either as a wave iii or c. Option green was removed.
One alternate to option blue is that wave 2 completed today at 1394 at 38% of wave 1.
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| SPX - 60 Min |
A bear flag, a backtest of the 20 SMA and potential head and shoulders pattern may be favoring that next leg down.
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| Option 3 |
Option blue from the 30 min chart above would go with this chart.
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| Bearish Case |
Option pink from above goes with this chart.
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| Minor 4 Flat Option |
Option black goes with this chart.
