3309 Drysdale Ct
Edwardsville, IL 62025
$SPX - Chart Link
Will review in weekend newsletter - to me the outlier is the
green impulse higher -
channel is the key to monitor
Additional Wildcard: As posted earlier China is conducting
military exercises (substantial) around Taiwan.
Thanks for the early charts Steve. Gives us something to chew on
over the weekend!
say "green is the outlier", you mean it's not a likely
Correct IMO - as I stated below twice and last week - monitor
the channel. Once you have a channel break the current
uptrend from 3721 has completed (until then the uptrend remains
intact). A reasonable expectation would be a 50% Fib
retracement. Keep in mind that any move below the 3946
previous high creates an overlap which implies just a corrective
bounce to be followed by new lows. So those are the levels to
monitor for any bullish count to remain intact.
Not questioning your analysis but China is not unpredictable or
irrational like Russia or North Korea. They have 500B surplus from
US trade every year. Forget about surplus from Europe .
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