Today 1/24/17 The SPX rallied and failed to reach 2285.92. I have stated in several posts this is very important resistance. Above SPX 2285.92 the supposed wave "5" up would be longer than the wave "3" up of an Ending Diagonal Triangle from 2/11/16. In Elliott wave rules the 3rd wave of a 5 wave pattern can never be the shortest wave.
Daily Stochastic, RSI, and MACD have bearish divergences. There I much more evidence and I don't have time to go into greater detail.
Very high probability the SPX on 1/25/17 holds below 2285.92 and closes the day down.
The November 3, 2016 bottom remains the minimum downside target.
Mark
Daily Stochastic, RSI, and MACD have bearish divergences. There I much more evidence and I don't have time to go into greater detail.
Very high probability the SPX on 1/25/17 holds below 2285.92 and closes the day down.
The November 3, 2016 bottom remains the minimum downside target.
Mark