.SPX: What's Going on Next?
Hello everyone! Today i want to share some technical analysis with you!
1.
From MPW Scroll #154 posted last weekend, “next Monday would start with a fairly large gap down, opening at 5800 or even 5782;” that is a very accurate read of the market.
Let’s see whether the rest of the prediction is correct or not. $.SPX(.SPX)$
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2.
Just arrived LAX and missed the intraday rebound; all short positions were stopped out in the first hour; the rebound is not impulsive enough so far; it needs to retest and hold 5800 tmrw to validate the bottom at 5780; the first series of correction “may” have completed today.
3.
The Red Path in this Jan 2nd chart is still worth noting, though. So far, the decline from 6100 has been very tentative, a typical feature of a large W-4 formation. As I noted ysydy, this correction will take a few months to develop and the minimum target is 5588.
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