My last post "Updated SPX Shorting Targets" noted upside targets in the SPX 2153 and 2163 areas. While these targets are still valid there could be another course the SPX is taking. The SPX from the top made on 9/30/16 could be forming an Elliott nine wave Horizontal Triangle. If the count I have illustrated in this post is correct, then the top made on 10/21/16 will hold and wave "H" down is underway followed by wave "I" up which would terminate below the "G" wave top made on 10/21/16. I suspect that waves "H" and "I" could be completed on 10/24/16.
The conclusion of the nine wave Horizontal Triangle will result in a powerful downside thrust.
Mark
The conclusion of the nine wave Horizontal Triangle will result in a powerful downside thrust.
Mark
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