SPX has approached the fib-0.5 retrace of the recent plunge (Chart 1). This is a logical area to conclude the red (ii) upswing if it is one. The rebound from the low can be counted as a complete zizag (Chart 2, red). Bullish counts place the current high as the green wave (iii) or the blue wave iii of (iii). A retest of the 1590 area (blue line) appears likely.
[720am] ES update -
