SPX: I want to keep this as simple as possible because this count is anything but so I chose to use SPX instead of ES. IMO what we're seeing from SPX is only a retrace with higher prices still to come but I'm very much open to this breaking down as well as right now we're kinda in the middle of the two. The optimum place for us to see this retrace bottom is 2093SPX. That is the level I'd expect to see hold if we're going to continue higher. By higher I mean 2155-2175 however if 2093 SPX is broken 2075-2065 then turns into an absolute line in the sand. Meaning if 2075-65SPX is broken it would confirm we have a top in place and I would then start looking for much lower levels. Now I'm sure I'm going to catch hell for this but if we break 2065-75, my target is 1800.
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