Since the last post, its declined nicely, the completion of a 5 wave decline from 295.38 into 279.74, followed by a bounce could suggest the move from 279.74 is close to ending or possibly completed at 289.25.
A strong move below 285.00 is needed, followed by an impulsive decline below 282.00, would be a strong sign to further support a move lower. Initial downside targets reside around 274.00, although based on the next decline will help decide if the move from 295.38 will develop into a 3 wave decline, which is bullish, or a 5 wave decline, which would be bearish.
The current idea is wrong above 295.38.
Sign up here to get updates for the SPX as well as other US markets CLICK HERE
Further details can be found on the pricing page. CLICK HERE