The SPX 7/14/17 appears to have completed an Elliott wave post triangle thrust up.
After completion of an Elliott Wave Horizontal Triangle there is a significant thrust in the direction of the primary trend.
Normally the post triangle thrust is equal to the widest part of the triangle added to the termination point of the triangle
can yield a target for completion of the thrust.
In this example the widest part of the triangle is 48.10 points added to the termination point of the triangle at wave (e) of 2412.80
targets SPX 2460.90 the high on 7/14/17 was 2463.50
The high is within range of the two previous major Fibonacci targets of 2454 and 2459 noted in several of my prior posts.
Any market that can get close to THREE Fibonacci targets indicates a market turn is imminent.
In this case the turn is down.
Continue to add shorts to the weakest of the main four US stock index's - NDX
Short NDX!
Short NDX!!
Short NDX!!!
Mark
After completion of an Elliott Wave Horizontal Triangle there is a significant thrust in the direction of the primary trend.
Normally the post triangle thrust is equal to the widest part of the triangle added to the termination point of the triangle
can yield a target for completion of the thrust.
In this example the widest part of the triangle is 48.10 points added to the termination point of the triangle at wave (e) of 2412.80
targets SPX 2460.90 the high on 7/14/17 was 2463.50
The high is within range of the two previous major Fibonacci targets of 2454 and 2459 noted in several of my prior posts.
Any market that can get close to THREE Fibonacci targets indicates a market turn is imminent.
In this case the turn is down.
Continue to add shorts to the weakest of the main four US stock index's - NDX
Short NDX!
Short NDX!!
Short NDX!!!
Mark