Looks like the most bullish primary option played out. I'm sure many were squeezed today once above the 50 day SMA as posted last night.
Looks like wave 3 was nearing completion towards the end of the day. Wave 3 has extended wave 1 by nearly 1.618* .
The 200 day is just above at 1265. Is the market gunning for this? If this is a new impulse wave up, it certainly allows for it.
One note of caution for the bulls is the alternate1 count is still very much in affect, however, as I tweeted earlier, it is becoming a less likely count.
|SPX - 5 Min|
|SPX - 60 Min - Primary|
|SPX - Daily - Primary|
|SPX - Primary Daily|
|SPX - Daily|
|SPX - 60 Min Alternate1|