SPX Futures Challenging Support

SPX futures are down to challenge the Cycle Bottom support at 2430.17 and the Head & Shoulders neckline at 2417.35 with a morning low in the futures at 2421.25. It is currently retesting the Cycle Bottom as resistance and may now have the ability to break the neckline. Since this Cycle has nearly taken 4.3 […]

SPX Challenging its Cup with Handle Trigger Point

SPX has completed a double zigzag from yesterday’s low. The rally has retraced 48.5% of the decline from 2390.01. It may have one zigzag left to finish a 50% retracement to 2356.13 or thereabouts. However the decline from 2390.01 and its retracement have gone exactly 60 hours, or 4.3 days at the 12:00 pm high. […]

SPX Challenging its Cycle Top

SPX is challenging its 2-hour Cycle Top at 2296.60. This move is corrective and appears to be a retracement with the added feature of filling the gap left on January 30. Wave 2 reversals often come off the Cycle Top resistance, so this is not abnormal. This is the 43rd hour from the 2300.99 top. […]