Major SPX Top - Elliott Wave Count Update

SP:SPX   标准普尔500指数
414 10
The recent SPX rally from 8/29/17 has been relentless and has blasted through three resistance areas- now appears to be on track to make a new all-time high.
The SPX pattern from 6/19/17 to 8/29/17 looks very much like an Elliott wave - Horizontal Triangle.
After the completion of these structures there is a post triangle trust in the direction of the main trend.
The rally from 8/29/17 looks like a classic post triangle thrust up.

If the SPX can move above the current all-time high at 2490.90 it will likely trigger stop loss orders.
Target zone for what could be a major peak is 2191 to 2195
Target day 9/5/17.

If the SPX does top in this price and time zone the most likely result is a mini crash down to the SPX 2130 area.
New time estimate for possible mini crash bottom is in mid October.


Hi Mark, does it look like start crashing today? What do you think of it ?? thanks
markrivest JackyQZ
Hi @JackyQZ,

US stocks failure to rally after the open is very bearish.
Probabilities have now shifted in favor of the bears.
High probability very important secondary SPX top made on 9/1/17.
Downside SPX target zone for crash bottom remains in the 2120 to 2160 area.

I will have a new post up after the close with more details.

JackyQZ markrivest
@markrivest, thanks buddy!
I have a similar count, but with differences. I have black 1 at the next small peak (which was a five). Interestingly 1.618 times that overall move as wave 1 matches your target area of 2491/5, which would make that completion of wave 3, with 4 and 5 still to come next year.

Fascinating that the markets have reacted so calmly to the Korean situation, which certainly suggests they want to move higher.

If 2490/2500 is exceeded, the more bullish count comes into play which suggests the third wave won't peak until the 2570 area.
Hello Mark, do you mean "mid October" will finish the mini crash or start mini crash ? thanks
markrivest JackyQZ
Hi @JackyQZ,

My post mention a possible mini crash bottom in mid October, meaning that could be the end of the crash.

I will post a more specific time, assuming the SPX makes a new all-time high.

JackyQZ markrivest
@markrivest, thanks for your sharing...
"Target zone for what could be a major peak is 2191 to 2195" - you mean 2491 to 2495 right?
markrivest thetazeta
Hi @thetazeta,

The major peak listed in the text should be 2491 to 2496.

thetazeta markrivest
@markrivest, thank you.

Excellent work, please keep it up!
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