$SPX: Possible Bearish Harmonic Underway
Over the weekend, I suggested we might go higher providing a number of conditions were met. So far, they have not been satisfied particularly a strong showing above 2177.
Meanwhile, the market has formed a short term bearish wedge and inside the wedge an Alternate Bat may be forming which needs to reach point D..........on or ever so slightly above the trend..........to complete a harmonic with decent ratios.
This is not a call but more of something to be aware of as Fed minutes remain a wild card. This is a futures chart so add about 6 points to get to $SPX pricing.
Meanwhile, the market has formed a short term bearish wedge and inside the wedge an Alternate Bat may be forming which needs to reach point D..........on or ever so slightly above the trend..........to complete a harmonic with decent ratios.
This is not a call but more of something to be aware of as Fed minutes remain a wild card. This is a futures chart so add about 6 points to get to $SPX pricing.