SP500 is very close to make a new all-time-high (Chart 1). Chart 2 offers tracking squiggles of the current upswing. A potential five-wave advance from the July 8th low is likely concluding.
[Blue count] Note the alternation in price and time of wave (ii) and wave (iv). Also note that wave (i)-to-(iii) roughly divides this advance into a 1.618 Fib ratio / extension.
[Green count] tracks a potential small-degree EDT which anticipates a higher high (which incidentally would be a new all-time-high for SP500).
Also see Tech "mania" (7/17/15) for additional discussion.
