Weekend Update - Upside (2/23/24 close)

 If it is an expanding diagonal triangle from Oct 2022 (blue), SPX is overthrowing. If we have a regular five wave (red), this past week’s advance may be part of wave three of wave five, with wave four-down and five-up left. The NYSE composite has finally caught up and made a new high. 

 

Weekend Update - Confirmation (2/16/24 close)

 

The high in SPX presents a nice Fib profile. Since the high, SPX has probed the blue trendline twice, where it has held each time, so far. Monitor for a meaningful breach of the blue trendline for some confirmation of a high. 

 

Weekend Update (2/9/24 Close)

SPX is approaching its upper edge of a potential expanding triangle. The smaller Wave A and Wave C within its final Wave E are also forming a nice Fib ratio. 

 

Weekend Update (2/2/24 Close)

 Wave Five in progress.