SPX update: road map for intermediate b and Major b.

Off the 1821 low, the SPX has now rallied 83 points. Given that SPX 1925ish was prior support it will now likely act as resistance. This level will also coincide perfectly with an ~50% retrace of the 2019-1821 decline; make it SPX 1921 even for simplicity sake 😉 and thus a nice 100 point rally! This will likely complete intermediate (a). We can then expect another ~50% (~50p) decline for intermediate (b) down to SPX 1870ish. The 23.6% Fib is at SPX 1867 and would fit perfectly. Then, assuming an ideal intermediate (c) = (a) relationship, major [b] could go to low 1970s; the 76.4% retrace of the 2019-1821 decline and a possible retest of the broken long term trendlines. However and alternatively, intermediate (c) can also only become 0.62x (a), which would again target the 1920s region. Regardless, let’s see if the SPX wants to follow my road map, because b-waves are supposed to be sucker-waves, phonies, and in this case bull-traps. They have to make the majority believe the only way is up…

SPX update 10202014


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