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SPX and RUT, Looking at a couple issues today. The purple down fork on SPX was tagged at the close yesterday and this may be significant and being watched by many. Another thing is SPX only needs just over 5% for the top target and RUT needs over 12% and seems to not be in line and things may need a reshuffle of the deck. The green up fork on SPX seems to be possible and would drop to 2039 and create a good wave ratio with the last leg up being a 1.618 to the last three days move. RUT tagged the big fork ML yesterday and is another significant obstacle.
"3 white soldiers on the SPX daily?" I was just looking at that a bit ago. Usually have a pull back after, but very bullish.
2 SPX 60,IWM 60: first with a zoom in and second with a larger time frame.All ending on July 22 with current fork and label pattern.
First chart shows two possible wave patterns for the large corrective. The green fork ML would take out that triple I have labeled as "not a high probability triple" and would finish within the week of July 22, the blue fork could go out as far as the second week of August if the base anchor is correct and price ends at the ML.
Second chart, This chart has the big picture and a red down fork to add another measure. Price recently bounced off both the blue and red MLs, Fork positions have good respect for reversals and gaps and this chart closely matches the IWM chart on bottom and what I favor now.
[img]stockcharts.com/c-sc/sc?s=IWM&p=60&st=2016-01-01&en=2016-07-22&i=p75584297007&a=423219137&r=1467201271070
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Yes
Brexit vote tomorrow, polls show 76% in favor of remaining which is good for the bull story of the markets last hurrah.
SPX and 2 RUT charts. wave patterns getting a bit sloppy, some indices such as INDU are very confusing. Here's some fairly reliable triples to take out. SPX has a triple shown in pink dotted, If the blue fork is accurate, we will need to retest the previously pierced lower blue fork tine. RUT has a very strong triple shown in both charts as the pink fork upper tine and needs to be taken out to the top of it.
SPX 60 again: wave ratios shown taken from tops and bottoms are consistant with 2212/2213 top. The yellow and green forks are my interpretation of the a,b,c waves and show a fractal pattern. The pattern from the 2025 bottom is a smaller "fractal" of the large pattern from the 1810 bottom. Timing wise, I lost the ML alignments and expect the final top to be somewhere between the ML and top tine and end of june is soonest and could be into mid july.
SPX 60: The chart goes out to June 30th. The blue up fork has a breach today/yesterday, however it seems to be reaching for the 200 MA and to take out that pink triple and I'm thinking to leave the blue fork as is for now. The dark green fork ML is out farther than the 30th, however doesn't mean that it won't surpass it and hit the blue ML. The end of the month is still a possibility at this point.
DAX took out the triple, we need a little more down for a bottom here
http://screencast.com/t/Wx3UB21uJwda
Dax is down 2 1/2% and still needs to take out that triple in red, another 50 points which will be about 3%. If it can do that and the US indices drop about 2% then the drop should be complete, otherwise finish up Monday.
http://screencast.com/t/DDwRyRAp
442, Hi, No I haven't seen of metalfillboy, If you have a subscription to IHUB (which I don't) you could do a search.
For the MLs cross, that would be a good plan. I am looking for 2213 for the top and is where I put the target. The target is based on some different time frame wave ratios.
SPX 60, this chart is separate from the 60 in the stickies. Time frame to show the complete up pattern so far. Monday/Tuesday low will let me fine tune the small up fork and have a predicted bottom being the 200 MA which is also a cluster of MAs in that area around 2070 to 2075. Notice the wave ratio with the A,B,C with a 2212 target. Using MLs for all fork targeting.
Karin, Thanks for the link, I had temporarily "fixed" the windows 10 turning off at 3 minutes by toggling the screen saver settings back and forth, however it went right back after shutting down overnight. I used the link and went back to 7. Thanks.