E-Wave for the S&P 500 Index

[gdl]

Seems to be a SET UP! IF we drop before the announcement that quarter point should help rally this sucker. I expect a down market right before the announcement. How down? Maybe 3720 area.

If on the other hand we actually hold today in a shallow drop (3930?) Monday and Tuesday might be yet another move higher.

Near the close today should be the TELL. On daily chart we have a distinct 3 wave move off of 3/13 low (3850). An overlap down, below 3920, should indicate this is only a 3 wave move. If we manage to hold above that than Monday could be a nice rally.

In other words, what the F? Can't tell when the next decent reversal happens yet. Maybe it becomes clear by close today.