SPX recaptured MA50. Until it meaningfully breaks lower for confirmation of the rec [c]-down, leave some room for one more rebound per the purple labels in Chart 1, as well as the possibility of sideways triangle to complete the correction. Nearly done if it is an expanding triangle - lower probability based on ES structure.
[320pm] Count update (SPX, ES) -
[1050am] Count update (SPX) -two ways to count the rebound - wxy/abc or an expanding triangle
[750am] Overnight update (ES) -Regaining MA50. Look for an expanded flat or wxy wave [b]-up in the cash index as discussed in yesterd's EOD update (see this chart,blue labels).
