It's interesting to monitor the potential trajectory of SP500 based on the symmetry outlined in Chart 1. While the symmetry tracking can end at any time and any point, one can make the following observations.
[1] For the very term term, SPX is on its way up to point 4 (or is just about to wrap up the decline to point 3).
[2] Potential new highs at point 4 and point 6 are not guaranteed and may be marginal at best.
Chart 2 presents accompanying near term tracking counts.
[1225pm] SPX update -
[1020am] SPX update -
Near term tracking counts (by color).
