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SPX thoughts

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#301 tsharp



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Posted 12 August 2017 - 06:30 PM

I am so thankful that all my charting has been restored... I hope to find time this weekend to post additional charts, but we can start with this one... by my fractal count, it seems possible that wave-i:iii is complete. If this is accurate, then wave-ii:iii would be under way, and it also seems plausible for a bottom range of ~2350 - ~2250... either of the two UTLs below (blue or orange) are logical targets, and a back-test of the orange UTL would be a fine place to find support, before resuming the larger bull market trend upward... as always... time will tell.


Link to SPX weekly EW chart:  https://postimg.org/image/ur6gpv4wp/



#302 tsharp



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Posted 12 August 2017 - 06:48 PM

This was one of the scenarios I thought possible over a year ago... and while the timing is going a bit slower than I imagined, let's see how the fractal points play out... if so, there's a LONG way to go upward still ahead!


SPX weekly projection from 4.19.16: https://postimg.org/image/xzay2wr6h/



#303 tsharp



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Posted 13 August 2017 - 08:23 AM

I do have much to do today, so here is a very brief update on just the SPX hourly, daily and weekly charts with my momentum set-ups.  The only context I want to show from the hourly is the two previous fib points of support/resistance below, either of which could become the target for this wave-ii correction, though I favor the lower range of ~2250ish.



Link to SPX hourly chart: https://postimg.org/image/t7abiyba1/





On the SPX daily fast momentum chart, the price and momentum indicator lines have come down to the Andrew's middle trine and broken a confluence of support lines, respectively; follow-through would suggest at least a ST top is in.  The SPX daily slow momentum line has broken a latent UTL and is dropping into its next UTL; again, a break here would suggest at least a ST top has been acheived.  Please also note the negative divergence on both charts of price versus momentum.


Link to SPX daily fast momentum chart:  https://postimg.org/image/hw7nul4ex/




Link to SPX daily slow momentum chart:  https://postimg.org/image/ketcv9q55/





On the SPX weekly fast momentum chart, note that the momentum indicator line has broken the TL, if this is a ST top, then I suspect the next UTL lower (dashed line) would be the wave-ii low target... note how long the negative divergence has been in play.  On the SPX weekly slow momentum chart, it too has broken a higher UTL, and if as in the slow momentum chart, I suspect the higher dashed UTL is the next target... twt.


Link to SPX weekly fast momentum chart:  https://postimg.org/image/3sbsm6x7d/




Link to SPX weekly slow momentum chart:  https://postimg.org/image/jrug5qt95/




Bonus... Link to SPX monthly fast momentum chart (note it would take a close below ~2285 for the month to suggest a larger CIT is under way): https://postimg.org/image/ufy74l389/



Edited by tsharp, 13 August 2017 - 08:26 AM.