$SPX - Market Analysis for Aug 3rd, 2018

SPX may attempt a few more points higher today to reach the .786 retrace at 2837 before wave C of b completes, but I still lean strongly toward another c-wave lower needed next week before the (b)-wave consolidation off the July high completes with 2787 as target support below.

$SPX - Micro - Aug-03 0711 AM (1 hour)
$SPX - Micro - Aug-03 0711 AM (1 hour)
Garrett Patten is a senior analyst at ElliottWaveTrader covering both U.S. and international equity indices as well as stocks.