SPX is correcting in an ABC pattern as I expected (please see my chart below). A wave is now complete and B is in progress which is likely to take SPX to 2720. C wave could start at that price level and take SPX down to 2680. Interestingly, this level also coincides with the top of the triangle (dotted green line). SPX could retest the apex of the triangle and move up from there.
SPX breakout and correction:
SPX breakout and correction:
評論:
C wave appears to be in progress now.
