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Stock Market Impulse Wave Down...

Stock-Markets / Stock Markets 2016 Dec 29, 2016 - 06:03 PM GMT

By: Anthony_Cherniawski

Stock-Markets

It now appears that SPX has completed its first impulse down to 2244.56 and appears capable of bouncing either to Intermediate term resistance at 2254.48 or to the trendline near 2260.00 in a partial retracement. It may take another hour or so to complete its bounce, then reverse into a probable Wave 3 in the final hour of the day.


This retracement may be used as a short entry point for the rest of the decline. If this analysis is correct, we may see the SPX decline to or near 2000.00 in Wave (1).

The VIX and Hi-Lo remain on their respective sell signals.

Regards,

Tony

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