CHARTS_CCI_SYSTEM

[dindindon]

11/12/15 SPX

review

11/09/15
- One may interpolate the zone (2047.41 - 2069.93)
- and comes out supports as: 2061.32 (0.382), 2058.67 (0.500)
- fine tuning is required after index shows more trails

status

- session low 2058.25, ongoing
- Tony Caldaro zooms in his primary wave V target 2214-2219, see quote.
- chart: link
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- Bulls’ hope: No rate hike on December FOMC, Hot money flows back to US
- U.S. Stock Mutual Funds Suffer Biggest Weekly Outflow Since 2011 link

tony caldaro daily chat room

https://caldaro.wordpress.com/2015/11/11/wednesday-update-517/#comments

Mr Market (@market_daddy) says:
November 11, 2015 at 4:39 pm

Tony,
Anything about the manner in which Pri V has unfolded thus far give you any clues as to which of your Targets is most likely? I seem to remember awhile back that the lower target (2214-2219) was favored with an overall 2-6 month timeframe. Is that still the most likely? Given where we’re at in the count, it seems very unlikely hit any of the higher targets…running out of time and waves.

tony caldaro says:
November 11, 2015 at 5:05 pm
still favor that one correct

FYI

The next three weeks will decide 2016 for the S&P
By Avi Gilburt
Published: Nov 9, 2015 11:34 a.m. ET

http://www.marketwatch.com/story/the-next-three-weeks-will-decide-2016-for-the-sp-2015-11-09?link=MW_TD

But if we still do get that lower low later this month, my upside target gets pushed out until at least the summer of 2016, and the target gets raised to at least 2459SPX.
So, while I am still questioning if we are heading directly to 2328, potentially by as early as the end of 2015 (but more likely into the first quarter of 2016), the SPX will still have two tests ahead of it to prove that to be the applicable target and timing.