Wave-b:c:(x):(iv) Appears Complete

Link to larger chart:  Link 

Back on 8.6.19, after the wave-a:c:(x):(iv) had completed its move upward, just short of the ~3040 range I had forecast on 1.4.19, I commented on how quickly the price range for wave-b:c:(x):(iv) had been reached, and warned not to look to high too early, as the fractal did not have the correct symmetry, and there was probably another leg down to the ~2850 range still ahead:  Link

 

 

I also added that after a move up, the next move would be down in wave-b:c:(x):(iv) to the ~2850 range by the end of August or early September…

The completion of that wave-b was on 8.28.19 at the print low of 2853.05…

The next move is upward in wave-c:c:(x):(iv) with a target in the 3200 range…

 

Link to larger chart:  Link

 

Here’s a look at the daily SPX with my momentum indicator set-up at the original (slow) setting…

The first leg of the wave-b correction overshot the price range I was looking for in a sharp drop, though the momentum indicator line found support in the zero support level…

The second leg of the b-wave correction found support about midway between the zero support level and the top of the gray zone resistance level, and has been bouncing between those to ranges since, and presently at the top of the gray zone resistance level, prepared to push upward through as wave-c makes its way to the ~3200 range in price…

 

 

Link to larger chart:  Link

 

Here’s a look at the SPX daily I haven’t shown before – as I’ve said, I have way more charts that I watch, than time to show them all…

With the momentum indicator line setting on this chart, a reset occurs when the momentum indicator line drops to the bottom of the gray zone support level and sometimes when it drops to the zero support level…

The second leg of wave-b:c(x):(iv) dropped the momentum indicator line all the way to the bottom of the gray zone support level with positive divergence of price versus momentum – a good momentum reset to allow price to rise to new ATHs…

 

 

As far as what the rise to ~3200, and into year’s end might look like, here is an attempt using two sets of Andrew’s Forks to project who that price rise might perform… watching:

 

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