SPX M November 2014

Well what a nice finish to October with the DOW and Composite making new all time highs, and the S&P missing it by just over a point, and the Wiltshire a stone throw away and the NYA and Russel dragging their feet!

In the October report from last week I pointed out the SPX Channels, and with the power of the bounce off the Weekly channel to Make W4 this is highly probable to be an extreme weekly wave which will make the Monthly breakout channel MLU as shown below very quickly, with an early target of yet another Santa Rally, with January highs at 2350 to make M3 as shown below. The confirmation is a break of 2074 in November.

The normal wave targets remain unchanged for M3 and I have added in early (April 2560) and late (2900 Aug 2018) M3 targets.SPX M Nov14As each line indicates support / resistance on its colour fractal wave scale and it takes too long to write them out manually I will no longer be taking them off as I can update more charts in that time!

 

 

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