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The Target from Jan 2 Met


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#1 redfoliage2

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Posted 09 January 2019 - 03:55 PM

SPX 2600 +-5 target was done today, and VST expect a reversal down to start the corrective wave ( b  ) ................


Edited by redfoliage2, 09 January 2019 - 04:01 PM.


#2 zoropb

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Posted 09 January 2019 - 04:33 PM

Nice one Red


Love, be kind to one another, seek the truth, walk the narrow path between the ying and the yang.


#3 redfoliage2

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Posted 09 January 2019 - 05:14 PM

Nice one Red

Thanks, Z.

So far this recent rally looks to me just a typical bear market rally in corrective waves.  If so we should see wave( b ) down to start soon.........


Edited by redfoliage2, 09 January 2019 - 05:14 PM.


#4 redfoliage2

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Posted 09 January 2019 - 10:32 PM

If the wave ( b ) to start tomorrow here are the possible Fibonacci retracements: 

for a 38.2% retracement it's going to be down to SPX 2501; 50% retracement to 2472;

61.8% retracement to 2444; or 100% retracement/re-test of the low at SPX 2350.


Edited by redfoliage2, 09 January 2019 - 10:35 PM.


#5 redfoliage2

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Posted 10 January 2019 - 04:14 PM

SPX unable to get over the overhead resistance at 2600 with very overbought internals.  It's waiting for a trigger to start the wave( b ) down.........



#6 redfoliage2

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Posted 11 January 2019 - 11:58 AM

Even without a geopolitical trigger the wave ( b ) is getting started today though the momentum is not great as it's still in its initial stage ...........



#7 redfoliage2

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Posted 13 January 2019 - 09:09 PM

expect the wave( b ) down to accelerate starting Monday.................