Thursday Update (1/17/19)

The small-degree fifth wave materialized today. Here is the ES chart.

Wednesday Update (1/16/19)

It probably takes a gap down and go to confirm the red "terminal" count.  Otherwise, a small-degree [v]-up looks likely.

Tuesday Update (1/15/19)

Monday Update (1/14/19)

SPX is poised to roll over.  A lower low is necessary to eliminate the potential fourth wave triangle, particularly in ES.

MTU Weekend Ed. - Rebounding II (1/11/19 close)

The first two charts update the bullish and bearish tracking counts.  For the bearish tracking, given the size of the rebound, the current rebound is much more likely to be wave D-up of a diagonal triangle/ triple three (Chart 2) than a fourth wave (not shown).

Chart 3 tracks the squiggles of the current rebound.

Thursday Update (1/10/19)

Minor breakout after a three-day consolidation (Chart 1).  Approaching resistance zone but reluctant to roll over.  Eyeing the 50% retrace and 50-day SMA? (Chart 2)

Wednesday Update (1/9/19)

SPX broke below the blue line at the close, just shy of invalidating a number of contracting or expanding wedges.  See previous updates for perspectives at larger degrees.