Replies to post #5532 on E-Wave for the S&P 500 Index

[GLENO34]

Thanks RCKS..5184 Futs is 5147 for the Cash. That just happens to be the Daily SPXTarget...


One guru I read thinks if 5186is reclaimed possible new highs on SPX

[RCKS]

"So, this is a do-or-die moment for bulls and bears.........."

http://www.pretzelcharts.com/

"Since last update, SPX rallied up into its first target/inflection zone, then the inflection zone did its job and SPX topped right at the "bear: c" label that I'd placed on the chart on April 26. I didn't even need to move it for today's update:"



So, this is a do-or-die moment for bulls and bears. If bulls could turn it back up over this week's high, then they could have a bull nest underway and launch a strong rally. If bears can keep pushing lower and break 4953, then they will be getting into the ballpark of a possible impulsive decline, which could signal a larger trend change. The upcoming sessions could thus be important for setting the intermediate tone of the market. Trade safe."