Update - SPX Seconday Peak 2181 - 2185

SP:SPX   Der S&P 500 Index
144 4
My last post noted the SPX appeared to be forming a five wave pattern up from the 2141 bottom and that wave "3" of the structure was still under construction. On 9/29/16 this third wave up was completed and the subsequent decline went below the supposed wave "2" bottom. The structure from SPX 2141- 2172 counts as an A-B-C. The subsequent rally so far counts as another A-B-C and could be a double Zigzag .
Wave "(w)" is nearly equal to wave "(Y)" a common Fibonacci relation for this structure.
Also the rally stopped at the declining trend-line.

As I previously posted 9/30/16 was the end of the quarter and a new moon both of which sometimes occur at market turns.

There is a daily Fibonacci time cycle due on 10/3/16. If the SPX fails to go above the high made on 9/30/16 then there is a high probability that a very important tertiary top is in place and the door is open for the SPX to have a sharp decline to the 1700 area late October to Early November.

I will have more information about this in future posts.

markrivest MindTrader
Hi MindTrader

Thanks for sharing the illustrated chart.

MindTrader markrivest
Thank Mark
Interesting count.
DE Deutsch
EN English
EN English (UK)
EN English (IN)
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Startseite Aktien-Screener Devisen-Screener Krypto-Screener Wirtschaftskalender So funktioniert es! Chartmerkmale Hausregeln Moderatoren Webseite & Brokerlösungen Widgets Stock Charting Bibliothek Feature-Anfrage Blog & Nachrichten FAQ - Häufige Fragen & Antworten Hilfe & Wiki Twitter
Profil Profileinstellungen Konto und Abrechnung Meine Support Tickets Support kontaktieren Veröffentlichte Ideen Followers Ich folge Private Nachrichten Chat Abmelden