Please see my 2/19/17 post SPX Major Top Forecast 2450-2465
In this post I illustrate two long term Fib calculations that target major Fib resistance at
SPX 2454.10 and 2459.30
Recently Minor wave 4 completed a Horizontal Triangle at SPX 2335.10.
When calculating the target for a post Triangle thrust, use the end point not the low point of a H-Triangle - which in this case was SPX 2322.30.
Typically there is a Fib relationship between waves 1 and 5. For the SPX pattern from 2/11/16 the actual high was in June not the orthodox high made in April.
Feb- June rally = 310.00 points x .382 = 118.10 + 2335.10 = 2453.20 very close to the two long term coordinates. More evidence of a major top in the SPX 2450 area.
Two best candidate dates for a major top are 5/1/17 and 5/8/17 more about this later.
Mark
In this post I illustrate two long term Fib calculations that target major Fib resistance at
SPX 2454.10 and 2459.30
Recently Minor wave 4 completed a Horizontal Triangle at SPX 2335.10.
When calculating the target for a post Triangle thrust, use the end point not the low point of a H-Triangle - which in this case was SPX 2322.30.
Typically there is a Fib relationship between waves 1 and 5. For the SPX pattern from 2/11/16 the actual high was in June not the orthodox high made in April.
Feb- June rally = 310.00 points x .382 = 118.10 + 2335.10 = 2453.20 very close to the two long term coordinates. More evidence of a major top in the SPX 2450 area.
Two best candidate dates for a major top are 5/1/17 and 5/8/17 more about this later.
Mark
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.