On balance, stocks appear to be wrapping up wave 4-down of the current upswing (green count), potentially ahead of the jobs number tomorrow.
While it is possible that the top of this upswing is in, the following price actions raises some questions:
(1) The lower low in the Dow as indicated in Chart 1 raises some doubt on the potential EDT in SPX.
(2) While SPX and INDU delivered record highs today, NDX and ES have failed to do so.
Let's see which path the market chooses to take.
[1140am] SPX/NDX update-
The small degree EDT, if tracks, caps SPX at 2020. See charts.
[810am] ES update-
