SPX Possible Path for November
Monday (11/4) will likely be a down day to complete the B of (B). Likely target is the 0.618 retracement of the 10/13 low to the 11/1 high at 3645-3650.
Following the Monday low, SPX will likely rally until Wednesday (11/6) and form an intermediate high. SPX will then decline into a higher low on Monday (11/14). Targets for 11/6 and 11/14 are unclear.
Finally, SPX will rally to complete C of (B) on Friday (11/25). Likely target is the A=C, which points to 4085-4090, assuming B of (B) strikes 3645-3650. Additional likely target is the 200-day SMA.
Following the Monday low, SPX will likely rally until Wednesday (11/6) and form an intermediate high. SPX will then decline into a higher low on Monday (11/14). Targets for 11/6 and 11/14 are unclear.
Finally, SPX will rally to complete C of (B) on Friday (11/25). Likely target is the A=C, which points to 4085-4090, assuming B of (B) strikes 3645-3650. Additional likely target is the 200-day SMA.
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