The choppy action in the stock market could be coming to an end very soon. My prior posts have noted the SPX
primary count from the 2/11/16 bottom is a truncated Ending Diagonal
Triangle which counts as complete at the 9/22/16 peak. This is a super bearish
wave count. Subsequent to the 9/22/16 top at 2180, the SPX
has been declining in what looks like a series of "ones" and "twos". This is also a very bearish pattern
and the third wave "II" up could be complete on 10/14/16.
If the SPX
tops in the 2144 to 2150 area the subsequent decline could be a very powerful decline down to SPX
1800 by 11/1/16.
Today 10/13/16 the SPX
had the second test of a .382 retrace of the move up from the Brexit bottom to the all-time
high at 2193. If the next decline decisively breaks below SPX
2114.70 it could open the door to a very large decline.