SPX: Elliott Wave case for the bulls

3 sept. 2017

A potential move up after a short down move from 9/1/17 can not be eliminated. This is an alternate for exiting early if market doesn't deliver a stronger down move. Support should be at 2456. If the move last week was a new wave 5, and not more of wave b of a retracement after 8/8/17 peak, then new highs are a possibility.

Watch closely!

5 sept. 2017

Transaction en cours

The bull case is now the primary and the bat/butterfly is the alternate. Closed short during 9/5/17 drop and switched long at 2451. Caution: bat/butterfly is still valid alternate unless up move continues.

6 sept. 2017

Transaction en cours

Still Long as primary move. Indicators still seem to confirm. Must be VERY cautious of 2467 holding as it could be wave b of the alternate and lead downward. Stops just below 2458 make sense.

7 sept. 2017

Transaction en cours

Held at 2460 and above stop of 2458. Still Long.

8 sept. 2017

Trade fermée: cible de profit atteinte

End of the line. Closed Call in 2464 area to await next ride.