So far the market topped out at spx 1380 on July19th , and Dow at about 12,950
From the June4th low at 1267, the recovery took a series of 3 wave legs to complete
an important peak, completing intermediate wave 1 & 2 ; which simply means that wave 3
DOWN to a NEW clsoing low under 1266 is NOW UNDERWAY.
As of today JULY 24th at 1:30 the SPX is NOW at 1334 and the Dow is at 12,565
How much more can they give up this week??
1380- 1331 = 49 pts
After a very brief rally into 2mrw's open, which could take the spx to 1350'sh
We could see a loss of 80 spx pts from 1350 down to 1270 challenging the June4th low
by This Friday, and or Monday, July30th, which is equal to a loss of 650 Dow pts down to 11,950'sh
THE Jaywiz Resource called the POWER DATA, clearly shows such an event this week.
MY Energy graph from JULY3rd also shows such an event occurring this week.
STAY TUNED FOR Further updates
Jay
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