Tuesday Update (3/3/20)

SPX saw a 50% rebound and fills the first overhead gap, but lost its 200SMA after the Fed's emergency rate cut (Chart 1). 
There is now sufficient retrace to conclude the red [2]/[B]-up.  On this count, we have a nice Fibo 5 days down and 3 days up (Chart 2).  However, the rebound to today's high counts better as a triple zigzag than an impulse wave.  See Chart 3 green for the possibility of a thrust higher tomorrow to complete a potential impulse wave.