S&P 500 Index
Updated

SPX LT View Sep 2017

778
Interesting similarities could develop
Note
Again, after a Major Top I expect a 2/3 yr Bear Market with potential decline of 25/35% into next decade when the secular bull should resume
Note
Bear Market should be Wave 2 of Cycle degree which means next decade there could be a massive Bull as Wave 3 of Cycle degree
Note
So then range into next decade could be 2700 upside/1700 downside
Note
Very interesting GDP numbers: 1Q15 was revised up to 3.8% YOY, massive, this is where the peak was and SPX topped few months later before plunging inline with GDP. 2Q17 continues to confirm acceleration to 2.2% from the cyclical bottom in 2Q16 of 1.2%YOY.
Note
Very tricky month of Oct coming
Note
Withing striking distance of BB No Taper resistance. Risk is very high
Note
This looks like extended 5 of 5 of 3. If one uses 1371 as P1 end then P3 at 2135 was about 1.50 of P1. Then if this is Wave 3 of P5 from the election low at 2084 (cash), then c. 1.50 of Wave 1 of P5 should be coming right here somewhere 2535/2540 where the BB No taper trend resistance lies. Wow, interesting as usual
Note
Critical week..

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.