Stock Market SPX Pop-N-Drop Appears Likely :: The Market Oracle …
Stock Market SPX Pop-N-Drop Appears Likely
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Stock Markets 2014Mar 11, 2014 – 02:59 PM GMT
After a flat overnight market, the SPX is bid higher in the Pre-market. It appears that a Minor C or Minute Wave [c] is in progress, with Waves 1-2-3-4 complete. My Model suggests resistance at 1880.63, so we could see a challenge of that before the final probe is over. The outer limit, if my analysis is correct, is 1883.00, which appears to be a very close call to the top made last Friday morning.
The Crimea affair is heating up. It may not be on the back burner very much longer.
Gold is also making a final attempt at its high made last week. As ZeroHedge reports, gold has topped 1350.00, but has not broken above its March 3 high. Gold is also pressing against its Master Cycle limits and must make a decline quickly. A break of the 1181.40 low in this decline will most certainly lead to a crash.
The TNX is waiting for events to start unraveling. It appears to be ready for yet another spike higher as international markets start spinning out of control.
It won’t take long for that scenario to unfold.
Regards,
Tony
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Stock Market SPX Pop-N-Drop Appears Likely :: The Market Oracle …
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