Monday, June 20, 2016

SPX Head Fake Coming?

EW and OEW followers are debating whether SPX is in a huge bear market rally or P5. Many seem to be expecting a huge drop from 2100 while most others seem to be expecting a huge breakout above the 2135 top. Perhaps Mr. Market will choose the in-between option to frustrate bulls and bears. If so, SPX would top between 2111 and 2135 allowing further debate about a truncated P5 or bear market rally/flat or wave 1 of P5 ending with an EDT. That debate would stay alive until SPX fell below 1810 or rose above 2135. The Brexit vote on Thursday could certainly be a catalyst +/-. Good fortune.

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