SPX Roadmap Update March 2018
Aktualisiert
Crunch time coming
Anmerkung
At min closing the gap at 2850 following the template from 2015/2016Anmerkung
SO basically next week SPX has to establish a higher low vs 2533Anmerkung
Essentially if correct, currently SPX should be in impulsive Wave C of irregular flat that started at the Feb lowAnmerkung
In the grand scheme of things, P5 leaning to ED of which current wave could be start of Wave 2 down. I expect summer to be big down but for this next week needs to hold and start bouncingAnmerkung
Fasten the seat belts one way or the otherAnmerkung
Good early start on the preferred scenarioAnmerkung
The most bullish scenario is a classic 4th Wave triangle above rising 55wma which could be underway also. That one will target above 3000, but for now lets focus on 2850Anmerkung
Essentially 2 grand options: W2 in ED or W4 in impulseAnmerkung
55wma is at 2540 now and rising a bit. This should serve as a supportAnmerkung
Final estimates of GDP at 2.6% YOY and Final sales to domestic purchasers at 2.9% all at cycle highs in 4Q17Anmerkung
Seems to me another test at 2570/2580 neededAnmerkung
Nope, seems truncation yesterday as Trannies appear to have bottomed. Triangle as W4 still not invalidatedAnmerkung
Make or break support at the 55wma
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