Changes made to the tracking counts (Chart 1) - Changed the previously most bullish 1/2/1/2 green count to a bullish ED, with the recent decline as [b] of the ED.
As discussed in recent days, the blue count accommodates a running flat with respect to the March low or the February high. Given the size of the recent decline, the blue count also accommodates a triangle (or a downward flat) with respect to the February high.
For the very near term (Chart 2), today's bounce is likely too large to be a small degree 4th wave rebound (red [4]). So on the bullish side, wave [1]-up from the low completed at today's high (green [1]); on the bearish side, an upward expanded flat rebound (blue b) or wave [a] of a 2nd wave rebound (green [a]) ended at today's high.
[1050am] SPX squiggles -
See this chart and yesterday's update for the larger tracking counts.
[Overnight] ES and DX -
