Suggests either a decent pullback or something bigger in store
Edited by chem, 22 February 2017 - 02:23 PM.
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Posted 23 February 2017 - 04:47 AM
It's 1-2 1-2 extended wave sequence in 2016. The start is 1800 and the mid point is 2250, that gives me a rough target at 2700 for the SPX. In that area I would start looking for market to build a top. But it can of course continue even higher as individual sub waves may extend.
Posted 23 February 2017 - 12:05 PM
The problem being, the third wave whether starting in '10 or '11 is an extension with a series of 1,2's and only one wave of a five wave sequence may be extended by rule.