SPX Roadmap Update March 2018
מעודכן
Crunch time coming
הערה
At min closing the gap at 2850 following the template from 2015/2016הערה
SO basically next week SPX has to establish a higher low vs 2533הערה
Essentially if correct, currently SPX should be in impulsive Wave C of irregular flat that started at the Feb lowהערה
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 bouncingהערה
Fasten the seat belts one way or the otherהערה
Good early start on the preferred scenarioהערה
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 2850הערה
Essentially 2 grand options: W2 in ED or W4 in impulseהערה
55wma is at 2540 now and rising a bit. This should serve as a supportהערה
Final estimates of GDP at 2.6% YOY and Final sales to domestic purchasers at 2.9% all at cycle highs in 4Q17הערה
Seems to me another test at 2570/2580 neededהערה
Nope, seems truncation yesterday as Trannies appear to have bottomed. Triangle as W4 still not invalidatedהערה
Make or break support at the 55wma
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