My last post speculated the SPX could reach the low 2390 area before resuming a probable Minor wave "4" decline to at least 2300.
This could still happen because sub minuette wave iv may be forming a Horizontal Triangle.
This count will be eliminated on a break below 2377.20
The 15 minute RSI is bearish as the closing level is below recent short term bottoms.
A move below SPX 2377.20 on the open 3/20/17 would be a strong signal that a decline to at least 2300 on or near 3/27/17 is underway.
I will have another update on 3/20/17.
Mark
This could still happen because sub minuette wave iv may be forming a Horizontal Triangle.
This count will be eliminated on a break below 2377.20
The 15 minute RSI is bearish as the closing level is below recent short term bottoms.
A move below SPX 2377.20 on the open 3/20/17 would be a strong signal that a decline to at least 2300 on or near 3/27/17 is underway.
I will have another update on 3/20/17.
Mark
