SPX is likely ready for a pullback, potentially before filling the overhead gap. An interesting trajectory would be to have a pullback to retest the prior downward trendline (Chart 1 gray line) and rebound from there, producing a potential inverse head-and-shoulders pattern (Chart 1 blue lines) in that case, with enough energy to fill the overhead gap. Chart 2 shows various squiggle counts that fit into the larger counts. See charts.
[130pm] SPX/NDX update -
Wedging on one hand and overhead gap in SP500 on the other hand. See charts.
[855am] ES update -
Tracking ABC-(X)-ABC from the nominal low (black) and five-up from the potential orthodox low (green). See chart.
