SPX Roadmap Update March 2018

Zaktualizowano
Crunch time coming
Uwaga
At min closing the gap at 2850 following the template from 2015/2016
Uwaga
SO basically next week SPX has to establish a higher low vs 2533
Uwaga
Essentially if correct, currently SPX should be in impulsive Wave C of irregular flat that started at the Feb low
Uwaga
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 bouncing
Uwaga
Fasten the seat belts one way or the other
Uwaga
Good early start on the preferred scenario
Uwaga
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 2850
Uwaga
Essentially 2 grand options: W2 in ED or W4 in impulse
Uwaga
55wma is at 2540 now and rising a bit. This should serve as a support
Uwaga
Final estimates of GDP at 2.6% YOY and Final sales to domestic purchasers at 2.9% all at cycle highs in 4Q17
Uwaga
Seems to me another test at 2570/2580 needed
Uwaga
Nope, seems truncation yesterday as Trannies appear to have bottomed. Triangle as W4 still not invalidated
Uwaga
Make or break support at the 55wma
Trend Analysis

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