SPX: Following some serious distribution the past few days, SPX
is down to its last three line of defense. The first is the closest trend support line. The level to look out for is about 2620. The second is Fibo 38.2 and wave (i) top of about 2597 since wave (iv) cannot encroach into wave 1. The last and final line of defense is the Fibo 23.6% which also coincides with the lowest trend support line at 2527.
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2593 busted today. Down to two last lines 2569 and 2527
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SPX: Showing the expanded ABC Wave 4 correction
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Wave 4 still on track:
