Blue Alternate Enters Support Area

The market broke into the Blue Alternate, which projected a move to 1943 SPX around October 2. September 21 Blue Alternate. This is the 125 SMA support area for the corrective B wave from the indicator study analysis in August.  Indicator Study.  The primary was that this move would occur more towards the middle of October. I did not play this move down and in hindsight I probably should have. Here is the current chart:  If you have been following, a significant break of the 125 SMA would place me firmly into the bearish scenarios (September was the terminal wave). I am not there yet and this is support.  Though buying this area has worked since 2012, I am going to watch for a reaction at this area before assuming the area will hold. We are also testing the Green Support line on the long term SPY chart. Closing below this line would be a data point in favor of the September wave up being the terminal wave. There are a couple days left in the week to fix this off the 1943 support area, so I will wait to see how the week shakes out before pondering a break.   There is always a bull path and a bear path. We cannot know which path the future will choose. As always, do your own due diligence, read the disclaimer, and make your own investment decisions. Peace, Om, SoulJester