The Dow's breach of its October low today suggests that the upswing and down-swing since Oct 2014 low is not wave (1) and (2) of [5]-up (Green (1) and (2) count in this chart). This leaves the green [4], gray (4) and blue (4) on SP500 in Chart 1, with squiggles in Chart 2. Note that SP500 closed around the purple asy. triangle trendline.
Transports have retraced about fib-0.382 of the advance since its 2011 low and continue to present a fourth wave option (Chart 3 & 4).
[850am] ES update -
Overnight plunge, likely fills the mid-Oct2014 gap in the cash index.
