$SPX - Market Analysis for Aug 1st, 2018

Upon closer inspection of the micro, I concur with Avi that it looks like we may have the setup for a larger flat to fill out as wave b of (b), which means an initial reaction higher following the Fed announcement before reversing back down tomorrow in wave c of (b).

$SPX - Micro - Aug-01 0945 AM (1 hour)
$SPX - Micro - Aug-01 0945 AM (1 hour)
Garrett Patten is a senior analyst at ElliottWaveTrader covering both U.S. and international equity indices as well as stocks.