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Stay Tuned for further updates
NO NEED TO WAIT !!.
OK- HERES ONE NOW !!
POWER DATA FOR Monday , along with Energy & wave progression POINT to a LOWER open for Nov5th with a potential for a pivot turn at 11am to noon, and or 2:30pm at the latest.
The only question that cant be answered in advance is
IF THE SPX WILL BREAK UNDER 1403.
***
1410 is at the 78% retrace, but since it closed at 1414, It doesn't look like that will hold, THUS it becomes more likely that 1403 will not hold either.
The 258 BAR CYCLE pivot low at 11am got obliterated on Friday ,as the SPX
made lower lows into the close.
THE NEXT 258bar cycle low is NOW DUE on Nov 7th at 1pm, and we would expect some strength after that event. Even the reading for the day indicates a stressful AM, but better later. THIS ALSO agrees with the Power Data index.
SO, we CONNECT the DOTS in advance AND look forward to Monday & how well the market follows this scenario, but also with a KEEN EAR to the ground, as we are always vigilant of a fibo level matchup to the above outlook.
Jay
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