SPX still in an ED (Ending Diagional) Update!
5th wave can fail to reach the 3rd wave peak - in the SPX case 1730.
A failure to break above 1730 now that the SP-500 has reached 1721ish will likely send the SP-500 price falling rapidly back down toward were the ending diagonal began at 1560.
The maximum ED target for completion is at 1749. To the up-side a move above 1749 would invalidate the ED count.
To the down-side watch for a move below the SP-500 50-day SMA (1679) to signal that the ED is complete.
As always.... time will show!
Safe trading Gents!
BM
Music at work: www.youtube.com/watch?v=DeumyOzK...
A failure to break above 1730 now that the SP-500 has reached 1721ish will likely send the SP-500 price falling rapidly back down toward were the ending diagonal began at 1560.
The maximum ED target for completion is at 1749. To the up-side a move above 1749 would invalidate the ED count.
To the down-side watch for a move below the SP-500 50-day SMA (1679) to signal that the ED is complete.
As always.... time will show!
Safe trading Gents!
BM
Music at work: www.youtube.com/watch?v=DeumyOzK...