I've posted that the SPX could reach the 2230 - 2260 9/30/16 to 10/03/16.
The Nasdaq (IXIC) has made a new all time high unconfirmed by the SPX and DJIA.
This in itself is a bearish signal, additionally the IXIC has a significant RSI bearish divergence.
The IXIC appears to have formed an Elliott wave Ending Diagonal Triangle.
A typical Fibonacci relationship is for wave "1" to equal waves "3" to "5" that target was almost hit on 9/22/16.
The IXIC may have peaked on 9/22/16 if not it may top on 9/23/16. If the IXIC is topping now then the SPX will probably peak as well and won't reach the price and time targets I have posted.
After completion Ending Diagonal Triangles quickly retrace to their point of origin, which in this case is the bottom made on 2/11/16. The IXIC could reach this level by late October to early November.
Mark
The Nasdaq (IXIC) has made a new all time high unconfirmed by the SPX and DJIA.
This in itself is a bearish signal, additionally the IXIC has a significant RSI bearish divergence.
The IXIC appears to have formed an Elliott wave Ending Diagonal Triangle.
A typical Fibonacci relationship is for wave "1" to equal waves "3" to "5" that target was almost hit on 9/22/16.
The IXIC may have peaked on 9/22/16 if not it may top on 9/23/16. If the IXIC is topping now then the SPX will probably peak as well and won't reach the price and time targets I have posted.
After completion Ending Diagonal Triangles quickly retrace to their point of origin, which in this case is the bottom made on 2/11/16. The IXIC could reach this level by late October to early November.
Mark