elliott wave shows oct 11th peaked in a 5 wave diagnonal ending triangle where wave 4 overlaps wave 1.
Thus we should see a retreat of good size proportions.
I know, its like crying wolf and he never shows up. Well this time he is coming to a neighborhodd near you, and me.
The best bet for a major retreat is Oct 22 to 25th, and ive mentioned that several times.
Monday performed as expected, and Tuesday settled down to MAJOR support at spx 1538, as discussed on many other site that I review.
Today is Wed, and I am anticiapting a gravitational rebound thru Thursday.
According to Another sources, Thursday's close or friday's open is the next turning oint, and it should be DOWN.
After a brief and strong rebound open on monday, the dow should fall precipitously thru the 25 and the full moon. Oct 11th was a new moon.
Best Wishes
Jay.
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