We can see the SPX hit 4103 Today... Using Elliot Wave Theory we know that to keep the big Elliot Wave pattern from being invalidated the market can't go below 4100 which is top of Wave 1. So the market has to start going up next Monday October 30th or else if it drops below 4100 the whole pattern is invalidated and the bulls have lost.. The market will tank....
But I still have hope that was indeed the bottom. I see a new bull run from here till at least the EOY. I guess we will find out real soon. Kind of crazy if it does start going up from here.. how close the SPX market "randomly" came to invalidating the pattern...3 points
A positive.. Saturday October 28th is the Full Moon which starts a bullish period till the new moon on Monday November 20th.
But I still have hope that was indeed the bottom. I see a new bull run from here till at least the EOY. I guess we will find out real soon. Kind of crazy if it does start going up from here.. how close the SPX market "randomly" came to invalidating the pattern...3 points
A positive.. Saturday October 28th is the Full Moon which starts a bullish period till the new moon on Monday November 20th.
Comment:
This also shows wave 5 down hit the wave 4 extension target of 1.618
