There we face a hard choice --
1. We can either crash again next week to support at 1740 SPX
2. We can gap out of the pink channel and make it up to 2050 SPX into October FOMC
The leg from 1970 to 1820 was precisely 1.618x the 93pt leg down off the September highs. But do we count this series as 1-2-3 or A-B-C?
BTW, if the lower leg wins out, that pink lower trendline takes us all the way back to the 1040 SPX area by January
|Short-term S&P 500 doodles|