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Strategies & Market Trends : General market lab and commentary

SPY 683.31

0.0%

Nov 12 4:00 PM EST

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From: Robohogs	5/11/2016 6:26:15 AM
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EW guys all in conflict - a real mix of overall bulls vs bears in main big counts. More importantly, on minor counts, they are all over the place, again with some bulls and some bears, but with all confused and changing counts and alternates becoming important. All I can say is that per the guy I pay for and hence hear the logic, key cash levels on SPX are 2074 (normal retrace of last minor 3rd wave up - being 38.2%), 2070/72 (50% retrace and major support line on bigger picture stuff), 2064 (top of minor wave 1 - 4s cannot breach and we enter a 4th wave down on open at current levels) and then 2054 (start of minor wave 1 - while the count gets invalidated below 2064, there may be ways to count subdivisions as ling as 2054 holds. Importantly, the last 2 levels are touch breaches while the 2070-74 atrea breaches matter only so far as those lines get solidly pierced without a move back through over some longer period of time. Jon

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