SPX has bounced sharply into the targeted zone outlined last week - ahead of schedule. As shown, there are ample resistances at this level, and SPX is anticipated to top out as a result. Price hit the white trendline, and a decline is expected tomorrow/Friday. Perhaps a test of the turquoise line is in order, with a bounce into around Dec 6-7th appearing in my cycle analysis. Because the price is already at the targeted zone, early next week may just put in a lower high.
After Dec 6-7th, my work for December is exceptionally bearish. The next target is 1020 (point 7 in my symmetrical pattern. That would be a 20% decline from current levels, and that is anticipated to be hit in January.
From my patterns, the decline should be steady, relentless, with few bounces until 1040. I have additional charts coming to show further detail on this move.
NDX is leading down, and that has been the case since mid-October. This is a formerly leading index, and it is struggling to bounce.
Silver has seen a decent bounce this week. However, according to the symmetry chart shown previously, a lower low is favored. Once point 3 completes at estimated $30 on the Silver futures, then finally solid upside to $36.50 area on the futures is anticipated.
Minor upside from today's close is possible for Silver, but it still looks probable that we can finally see this lower low in the next couple days.