Volatility has taken hold. The abrupt move to the highs today is possibly signalling a top. Too fast too soon. This would just accelerate the time it needs to top out. On an EW wave it is close to complete or has already completed. We shall see if we have another geopolitical event to move markets tomorrow in the other direction. If this is the top, I expect the target way below at 1560 to 1600. Yes it seems so far to try to forecast such a price level, but this would be a valid level for a previous 4th wave retracement. Again it is just a thought, and EW should always be taken with a grain of salt. We are UP again on the ST, and volatility has caused a delay on the indicators due to its fast moving price. In the end things will calm down and return to normal so we must follow the indicators.
A possible high of 1879 is what I am looking for. We could go higher as most are looking for the 1900, but we are in my opinion close to a top of sorts.
MT: UP
ST: UP
PA: UP
1835 on the SPX is now the price to break for the bears to sustain a move lower.
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