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Post# of 51779
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techcharter

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techcharter

Re: None

Tuesday, 08/25/2015 7:50:00 PM

Tuesday, August 25, 2015 7:50:00 PM

Post# of 51779
SPX Mini Futures corrective flat.

Those wild gyrations to the upside look like a flat. Tuesday's afternoon selloff looks motive and dropped below wave b of the corrective flat to confirm the rally off Monday morning's lows as corrective. Flats generally occur before or after the longest subwave (1,3,5) of a larger motive wave. With wave 1 dropping 11% last week, wave 3 should be at least a Fibonacci 16% drop. That would make the next downside target 1650.

http://www.barchart.com/interactive_charts/futures/ESU5
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