$SPX - Market Analysis for Oct 16th, 2018

SPX seems to be reaching for the .500 - .618 retrace now, which is more in-line with a b-wave bounce shown in blue rather than a 4th wave in red. Either way, 2823 and 2850 SPX are now the next resistance levels to watch. 

$SPX - Micro - Oct-16 1253 PM (1 hour)
$SPX - Micro - Oct-16 1253 PM (1 hour)
Garrett Patten is a senior analyst at ElliottWaveTrader covering both U.S. and international equity indices as well as stocks.