$SPX - Market Analysis for Aug 10th, 2018

SPX seeing the follow through lower suggested, now entering the target support region for wave ii of (c) under the blue path. Between here and 2822 is where price should hold if it intends to turn back up in blue wave iii of (c) next. Otherwise, if support breaks or only a corrective bounce is seen instead, then the alt (b)-wave in red can take price a little deeper, back for a retest of the August low.

$SPX - Micro - Aug-10 0649 AM (1 hour)
$SPX - Micro - Aug-10 0649 AM (1 hour)
Garrett Patten is a senior analyst at ElliottWaveTrader covering both U.S. and international equity indices as well as stocks.