SPX Roadmap Update March 2018
Diupdate
Crunch time coming
Catatan
At min closing the gap at 2850 following the template from 2015/2016Catatan
SO basically next week SPX has to establish a higher low vs 2533Catatan
Essentially if correct, currently SPX should be in impulsive Wave C of irregular flat that started at the Feb lowCatatan
In the grand scheme of things, P5 leaning to ED of which current wave could be start of Wave 2 down. I expect summer to be big down but for this next week needs to hold and start bouncingCatatan
Fasten the seat belts one way or the otherCatatan
Good early start on the preferred scenarioCatatan
The most bullish scenario is a classic 4th Wave triangle above rising 55wma which could be underway also. That one will target above 3000, but for now lets focus on 2850Catatan
Essentially 2 grand options: W2 in ED or W4 in impulseCatatan
55wma is at 2540 now and rising a bit. This should serve as a supportCatatan
Final estimates of GDP at 2.6% YOY and Final sales to domestic purchasers at 2.9% all at cycle highs in 4Q17Catatan
Seems to me another test at 2570/2580 neededCatatan
Nope, seems truncation yesterday as Trannies appear to have bottomed. Triangle as W4 still not invalidatedCatatan
Make or break support at the 55wma
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