Thursday Update (1/31/19)

Extended third wave of an impulse or of wave C (blue) likely.   Expanded flat for a wave B/2 if possible (red).

Wednesday Update (1/30/19)

SPX is probing the main downward trendline.

Tuesday Update (1/29/19)

Monday Update (1/28/19)

MTU Weekend Ed. - Rebounding IV (1/25/19)

SPX has now spent a month rebounding from its December low and managed to close above its downward sloping 50-Day SMA.  The first leg is likely over.  Currently we are likely seeing reactions around 50-Day SMA.

Thursday Update (1/24/19)

SPX: potential simple ABC rebound (blue) or potential sideways bearish triangle (red)

Wednesday Update (1/23/19)

Yesterday's and Today's rebound from the intraday lows in SPX appears to be reaction to the 50-day SMA (Chart 1).  The drop from the rebound high in ES can be counted as a five, Chart 2 shows the mapping into SPX.  If so, the small degree second wave rebound can retest the gray overhead trend line of a potential larger expanding diagonal triangle we have discussed previously (Chart 3).