The afternoon selloff was swift, but remained a three wave structure to the day's low. If the current advance has not topped, today's development leaves several interesting possibilities.
[1] Perhaps the most interesting one is the possibility that waves will indeed resolved themselves with a small EDT within a large EDT (Chart 1, green). In this case, today's sell-off is wave d of (c).
[2] It is also possible that today's selloff is a small-degree wave 4 (Chart 2 green) of the final subdivision or wave 2 of an extension (Chart 2, red).
[1030am] SPX update-
