S&P 500

27 Oct 2017 ‚óŹ 04:48 AM

S&P made its first lower low on daily charts after hitting the upper end of a channel long term. This is an arithmetic scale. Wave 5 on monthly charts was forming for 7 months and time wise is longer than the earlier moves. We we need a confirmation from the monthly pattern turning negative and the development of a impulse wave down from a top to confirm that wave 5 long term is indeed over.

snp 271017

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