A move to 3100 over the line and 2.618, will be bullish, potential to 2100 as of right now.
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Posted 10 August 2019 - 01:23 PM
As I see the SPX for now... From my Insta update this morning:
Those who've followed my page for a while know I'm looking for the SPX to continue moving upward into year's end, with a target in the ~3290 range...
The interesting thing about momentum, is that as a move gets older, its momentum declines, making lower-highs, and bouncing between the UTL or top region of the gray zone support level and its DTL...
This is the SPX daily going back to the 2015 wave-3 high, and showing how that topping process compressed the momentum indicator line as I said above, and I'm looking for the same type of downward momentum move, while price moves higher in an ending diagonal triangle into year's end... watching.
Posted 11 August 2019 - 11:37 AM
Just an FYI, the next think I look to after momentum is breadth, and breadth is NOT suggesting hard lower-lows from here...
Posted 14 August 2019 - 09:33 AM
Just a quick update... I think this low marks the b-wave, and I'm still looking for ~2974 or ~3003 for a wave-c high... twt.
Posted 14 August 2019 - 04:27 PM
The last election cycle was down and choppy in the mid 3rd year into the elections. It may do the same this time.
As of right now cash has put in a lower closing low with NYMO and VIX divergent, ES has not put in a lower closing low.
Edited by CLK, 14 August 2019 - 04:32 PM.