Replies to post #35391 on ajtj99's Market Pulse

[ajtj99]

Justa, the imperfect 3-black crows on the weekly SPX would target about 1070 for the 50% extension. Note how the 50SMA near 1112 has been an inflection point on the weekly the past several weeks. Also note the lower BB on the weekly SPX at 1069 and the 200SMA at 1066:

http://stockcharts.com/def/servlet/SC.web?c=$spx,uu[h,a]waclyyay[pb20!b50!b200!c13!c20!c50!i!d20,2!a...

The Dow imperfect 3-black crow target is about 9550 Dow.

I agree on that fractal from July-August. I mentioned previously the progression would suggest a low sometime late next week.