S&P500 chopping around in the ideal target zone

17 ต.ค. 2019

Not too much to add to Tuesday's update as price continues to remain in the ideal target zone. Seems like it "wants to" tag that upper red trend line around the round SPX 3020 level, but for that to happen, 2983 must hold. A move and close below it targets low 2960s AND direct overlap with 2960 then make the whole move up off the 2855 low only three waves. Holding 2961 and then rally could shift favor to the Bulls. TBD. Bottom line; as price is staying within the ideal b-wave target zone taking profits/moving stops up is never a bad idea. But for now the trends remain up, until proven otherwise, so watch 2983 and 2960 going forward for downside setups.