The first gap target is hit today. SPX has recovered about 50% of its recent sell-off. While gap 1 in Chart 1 is filled, an upward open gap surfaced at the open. Chart 2 tracks the squiggles from the low. The red count tracks a completed double zigzag. The blue count tracks an incomplete impulse with an extended 3rd wave. The green count, which tracks an impulse with an even more extended 3rd wave, appears less likely at the moment. See charts.
[845am] ES update -
ES is kissing the Feb/Apr trend line (Chart 1). Tracking counts in Chart 2. Gap 1 in SPX cash most likely filled today, the first post-full-moon trading session. See Rebound, Gap fill (8/8/14) for details.
