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SPX Needs Another Probe Higher. NDX Does Not

Stock-Markets / Stock Market 2017 Sep 28, 2017 - 05:29 PM GMT

By: Anthony_Cherniawski

Stock-Markets

SPX appears to have one further probe higher to complete Wave (v). It appears to be an Ending Diagonal, which means that Wave (v) should be an a-b-c form. Five waves already appear, but the middle wave cannot be a Wave iii because it is the shortest in the series. Wave v may reach equality with Wave i at 2515.00, so that is my target. The Cycle Top is at 2524.55, so we may consider that as a possible limit to an extension.


This weekend (October 1, 2017) is the 30.1 year Cyclical pivot. It is likely that the turn may be made once the SPX hits its target, whether it happens today, tomorrow…or Monday.

Cycle Wave c reached 2.25 times the size of Cycle Wave a at 2483.58. The largest degree calculation has been met. The next largest, Primary Wave [5] is twice the size of Primary [1] at 2506.00 and also been met. It’s the smallest degree calculations that are making us wait.

It is probable that the NDX has already made its peak on September 18 and may have even completed its Wave 2 high yesterday.

We haven’t received a signal from either the VIX or the NYSE Hi-Lo Index. I’ll be watching them as we wait for the top to be finalized.

Regards,

Tony

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Disclaimer: The content in this article is written for educational and informational purposes only.  There is no offer or recommendation to buy or sell any security and no information contained here should be interpreted or construed as investment advice. Do you own due diligence as the information in this article is the opinion of Anthony M. Cherniawski and subject to change without notice.

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