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S&P 500, major problems ahead?

Discussion in 'Technical Analysis' started by FXStreet_Team, Oct 16, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    S&P 500 (cash) near term outlook: The market remains firm near recent highs and testing lots of resistance in the 2024/33 area (both the ceiling of the bullish channel from the Aug 25th low at 1867 and a 62% retracement from the May high at 2135). Seen part of a larger correction from the Aug 24th low at 1867 (wave 4 the decline from that May high) and with eventual declines below there after (within wave 5). Though there is no confirmation of even a shorter term peak so far (5 waves down

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