Copied this graphic of SPX from amateur investors. The problem with Elliott Wave is that the waves can subdivide and move in unexpected directions (who knew..). So the question is does SPX subdivide in wave 3 and move up and break above 2194 or does it pull back in wave 4 correction. Logic would probably dictate that it could pull back to approximately 2150 area but not likely less 2100 because of support. But who knows... There is a lot of political unrest\volatility news on the world front...Russian makes plans with Yemen, child bomber (probably ISIS) in Turkey, problems in China economy, oil inventories still high, etc. that could put a damper on the markets for a day or two. On the other hand, all the CBs will meet next week in Jackson Hole and we all know that they can spin the market to wherever they want it. Time to Buckle Up!
Attachment 39197
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