Short-Term SPX Analysis

Hey Market Timer!

We’ve launched an ad free version of our free content!

Read all of our newsletters and blogs ad Free! That’s over 20+ newsletters a month ad free for just $3!

And now you can explore the new premium tiers and try out our two premium content tiers as well!

Unleash the power of market timing. Upgrade now!

Here is my evidence:

· Wave c of (b) equals a, which is ideal.

· It is deeply in the highest target region (green box).

· It entered the resistance zone.

· It is just below the 78.6% retrace level.

· The gray channel DTL is just above it, representing additional resistance.

Developments on Tuesday:

·         When the SPX price hit the gray channel’s downtrend line (resistance) and 78.6% Fibonacci retrace of wave (a), and near the top of the cycle target, SPX started to correct.

·         As soon as SPX hit the targets above, I posted it in real-time on X (formerly Twitter).

· The reversal level was 5200; round numbers often manifest as resistances at the orange trendline and almost the top of the 10 D cycle target.

· This demonstrates the power of the confluence of multiple technical targets and resistances.

· As of this writing, 20 minutes past midnight, SPX futures and ES have a target of the red box (5198.5-5204.4) below the 10D cycle gray FLD band.

· By getting there and breaking through the FLD, ES will generate a target toward 5190.

· That might be it before another short-term bounce, but if the 10D cycle peaked its down phase may last 4+/- trading days.

· The reversal point was good for the end of the bounce and the start of a downtrend. But we are discussing micro moves, not yet the confirmation of a new downtrend. Every big move/wave starts with a small move/wave. We will be watching for the hints of a bigger move down.