SPX week 02/08-02/12
I punched my head couples times just cannot spot a textbook alike wave patterns (for Zoom-In & Fine-Tune purpose). Quite a few seemingly possible candidates poped up but they are premature to post. By combining the already deployed wave structure and the Fibonacci retracement 0.236/1788.29 criteria, a flat expansion that peeks 2K boundary and pokes 1850 would be the most likely outcome, it hangs till the new bear catalyst arrives. (texts in italic, Used in from SPX week 02/01-02/05 http://www.traders-talk.com/mb2/index.php?/topic/163285-spx-week-0201-0205/#entry740304 ); Conflicting cycle projections for late February (02/22-02/26) , It's better to keep my mouth shut.
Used In Chart - Supports and resistance
The critical support zone 1875.84-1865.02. got tested again, If that zone gives away, then the odd is increasing the mighty SPX will re-test 1812 and switch the riding route to the red color wave in this chart http://forexrainbow....74429164261.jpg
Used in chart: zone 1915 to 2018
http://forexrainbow....50717712720.jpg
Trend line & support
19 January 2016
Fibonacci retracement 0.236/1788.29 is considered a reasonable gauge. As long as the downward movement is maintained above the 1779-1788 support zone, bull still has the chance assaulting 2069/2070. (To be elaborated, a lengthy discussion is not wroth posting at this moment)
The following long term weekly chart gives an overall pictorial view
chart: http://forexrainbow.com/images/06454221328165500593.jpg
Momentum indicator
http://www.investope...ical/081501.asp
SPX reverses the direction from a pretty negative value but stays firmly in a downtrend. One may adjust the setting and get a feel how much embedding information can be extracted
Zoom-In & Fine-Tune score board
1947.06 vs. 1947.20 (actual), Δ = +0.14, : http://forexrainbow....80685761085.jpg
1812.33 vs. 1812.29 (actual), Δ = -0.04, : http://www.chartuplo...30629781891.jpg