Monday, August 10, 2015

SPX: Cluster of 5 Projections 2214 to 2220


Price:
There are five major geometric projections clustered from 2214 to 2220 area. I think there is a fairly high probability that this price cluster will be hit before an intermediate or larger correction occurs. So I am changing my highest probability target to this cluster area, with 2157 now being the minimum target.

Time:
Ideal timing for a possible top remains around 8/28/15, but it could be as early as 8/19 and as late as 9/10/15. I think in this case, price will be more important than time. If 2214 to 2220 gets hit, I would think time has probably run out and would be on maximum alert for reversal signals.

Kim Rice 8/10/15