View: SPX: Follow Up of the Short Term EWP | The wave trading

Tomorrow we have a holiday in Spain so I will take a day off the markets.

The two patterns I showed today are still “on the table”:

An Ending Diagonal that would complete a Zig Zag from the November 16 low. The target would be located in the range of 1433. This pattern would strengthen the larger picture (Bearish) wave (B) scenario, as the next directional move will most likely be to the down side with revisiting the November lows (probably a lower low)

The Double Zig Zag option. If today price has established a bottom, could morph into a Triple Zig Zag. This pattern should have a substantial higher target above 1433 but could establish a lower high (below the September 14 high) hence it should also be a wave (B)

If I see anything interesting by tomorrow’s eod  (ahead of Friday´s NFP) I will send an update