4227.26 = EW prior potential double top price level, which bulls must eventually surpass on a lasting basis and this 4227.26 prior level was at the time a specific vigilance watch upside retracement percentage level --- for a prior major EW price decline
* the shorter length potential double bottom vs. the longer length potential double top viewed within the context of the $SPXEW monthly chart -
failure for this current $SPX price bounce of recent days to see actual upside follow through in the coming days/weeks is at least 60% probable and up to 85% probable with this current setup of the numerous index internals shown in the chart below, OR this is the "much room to the upside" setup path for $SPX $3000 and above which I give only up to 30% odds at this moment with this specific chart setup and other charts of internals we are now evaluating in its current setup … this chart requires high vigilance as it develops
* bulls need the S&P 500 PMO Internals to dramatically improve from the June/July lows
71% of the 500 stocks in the S&P 500 resided above their PMO zero line at the most recent 2018 multi-month high, which is a level the bulls need to eventually surpass in the coming weeks/months
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