SPX500 Long to 2450

١٧ يناير ٢٠١٧

My previous target was 2388 (in between 0.5 and 0.618 extension of wave 3-4). I now believe the market will show bullish moves unto 2450 before setting in for a reversal in the second half of 2017. The extreme target for this bullish move can extend to 2567 which is measured move of wave 1 and also 2.414 extension of previous cycle. Historically SPX has failed to reach it's full measured move and thereby I picked the 2450 target. If bearish tendencies persist then the 2388 or a round 2400 target may come in effect.

Hard landing is based on the long term support from multi-year lows, soft landing is based on a combination of .5 retracement and multi-year highs (resistance should act as support)