SPX Short term test only – Update 14 February


Well it has chosen the lower blue route shown on the update of the 11th (inserted below for comparison).

11 Feb SPX ST

 

There still is some upside potential as it needs to make another high of between 0.5 and 1.5% with the current ideal target shown in the green circle (0.5% – tomorrow) and app 1.5% if it goes to ideal c5 (which could be as late as 25th February).

Below you can see what happened and the current projection for the top – remember this top will be pivot m5 of c5 of d3.  The risk reward ratio is not very good at this point. Look for a wave count and breaks below the bottom rails of the blue triangle. Watch for a close below there and d3 should be in!

14 Feb SPX ST test upate

 

Yesterday I started a comparison of SPX/INDU/COMP/RUT which proved helpful and is shown below.

13th 4 indices

 

The Russel confirmed m4 at last nights close!

Tomorrow gold should test 1626 and then take a breather around 1605 to 1610 as per yesterdays note. A close above the blue triangle confirms c-3 as shown below.

14 Feb Gold ST test upate

 

Marc

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