Strong dip-buying but markets still weak after the big drop earlier.
Let's see if the bears can crack SPX 2700 on the way down for a super down day, or if the bulls can finish the day above SPX 2720.
Bulls lose momentum, 2740/42 important support
Started by
dTraderB
, Jun 25 2018 06:35 AM
14 replies to this topic
#12
dTraderB
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Posted 25 June 2018 - 02:16 PM
Entering the danger zone as SPX attempts, again, to decisively break 2700
#13
dTraderB
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Posted 25 June 2018 - 02:20 PM
rejected, again, at SPX 2700
#14
dTraderB
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Posted 25 June 2018 - 02:43 PM
Strong rally as SPX 2720 taken out, can they close above it?
#15
tsharp
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Posted 25 June 2018 - 09:18 PM
I have wave-a at 67-points, so wave-c could be 1.38a or 1.62a, meaning 92-points or 108-points, respectively, if normal rules play out... therefore, 2700 or 2684, basis the SP00s, are the two targets I am watching for.
And this is what it might look like:
Link to chart: https://postimg.cc/image/5aedyd48p/
Here's how I see things as of today's close... the 2700 level held, but there is one lower level I am also watching: 2684... we shall see what transpires this week, but I am looking for this running wave-ii to complete and wave-iii to begin upward... likely before the week is out... time will tell. P.S. I'm labeling in a-b-c-d-e due to the three-wave structure I see in this leg (wave-c).
Link to chart: https://postimg.cc/image/nezs1m0hl/
