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| May 18th @ 8am |
The Previous page shows spx potential to make it to the 1300 level before popping in wave 4 on Friday
and Monday.
today's math seems to indicate a high at 1334
1359- 1318 wave 3of iii
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now in wv 4 of iii as of the 1318 low at 11:30am
that gave the spx a decline of 41 pts matching wv 1 of iii, but Elliott rules in this structure would seem
to project 41x 1.618% = 66 pts
1370-66 = 1304
or
1359 - 66 = 1293
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The 50 day MA is reported at 1323.50
was broken briefly yesterday
THE current wave structure is quite clear, at least to me, as the road map I published earlier this month
is working out quite well thus indicating a LOW on the 27th and or 31st with a huge rebound starting JUNE 1st.
Jay
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