SPX500 & SPX EOD 06/05/2016
SPX500 & SPX EOD 06/05/2016
THE FALL FROM 2011 TO 2039 SEEMS TO BE 3 WAVE A B C FALL.
INDEX SHOWN INITIAL SELLING PRESSURE & DROPS DOWN TO 2039 NEW LOW. THIS LOW IS APPARENTLY IS 214.6% LEVEL OF EXTENSIONS FROM 2111 TO 2077 & ALSO 50% RETRACEMENT LEVEL OF 2111 TO 1969. THESE 2 LEVELS WERE SAME & INDEX TOOK SUPPORT. NOW THE INDEX HAS CLOSED ABOVE 2052 WHICH WAS OUR IMPORTANT FIBONACCI SUPPORT FOR MID TERM & NOW IT IS TO BE SEEN IF INDEX SHOWS FURTHER STRENGTH TO RETRACE BACK TO 61.8% OF FALL FROM 2111 TO 2039. ANY MOVE BELOW 2040 WILL INVALIDATE THIS RETRACEMENT.
SEE DETAIL CHART AT amgonifty.wordpress.com/2016/05/07/s-p-500-eod-06-05-2016/
THE FALL FROM 2011 TO 2039 SEEMS TO BE 3 WAVE A B C FALL.
INDEX SHOWN INITIAL SELLING PRESSURE & DROPS DOWN TO 2039 NEW LOW. THIS LOW IS APPARENTLY IS 214.6% LEVEL OF EXTENSIONS FROM 2111 TO 2077 & ALSO 50% RETRACEMENT LEVEL OF 2111 TO 1969. THESE 2 LEVELS WERE SAME & INDEX TOOK SUPPORT. NOW THE INDEX HAS CLOSED ABOVE 2052 WHICH WAS OUR IMPORTANT FIBONACCI SUPPORT FOR MID TERM & NOW IT IS TO BE SEEN IF INDEX SHOWS FURTHER STRENGTH TO RETRACE BACK TO 61.8% OF FALL FROM 2111 TO 2039. ANY MOVE BELOW 2040 WILL INVALIDATE THIS RETRACEMENT.
SEE DETAIL CHART AT amgonifty.wordpress.com/2016/05/07/s-p-500-eod-06-05-2016/
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