12/20/19 - EOD Update

Not much to add since the last post. Primary count still in play. Just added a projection should wave (iii) extend 1.618x wave (i).

Daily

11/27/19 - EOD Update

Since my last post a month ago, I mentioned that the more bullish nested 1-2 i-ii option had the potential to play out with the market grinding higher and so far that seems to be the case. I made some slight adjustments to the alternative counts.

Primary until the market tells otherwise is that wave (iii) of 5 of (5) is playing out. The bearish alternate is a much larger expanded flat in the works playing out wave b before a leg c wave down to follow.

Happy Thanksgiving.

Daily

10/26/19 - S&P Update , GOOG

Not much to update here other than the bullish potential setting up as the market continues to grind higher. Option 2 and/or the expanding triangle previously posted is not off the table but the bulls have certainly made a case for their potentially bullish nested i-ii (i)(ii) option I introduced on 8/6 and the ascending triangle pattern playing out.

S&P Daily

GOOG likes the triangle too.

GOOG Weekly

8/6/19- EOD Update

Since my last post on 7/20, I mentioned that we should pay attention to option 2 should support at 2954 fail. The ED option is still viable with the recent breakdown considered a throw-under, which would result in one final push up in a throw-over. The other bullish option is the nested 1-ii (i)-(ii). The invalidation point for ED or the nested i-ii option is highlighted at 2728.81.

Daily

However, the expanding triangle I have now included as option 3 may support option 2, which implies further downside to come. 

All this volatility as of late would fit perfect into this back-n-forth wave action. The next couple sessions will be telling.

Place your bets.

7/30/19 - EOD Update

So far respecting that upper trendline on the diagonal. But also found initial support on the backtest of the 2954 level previously mentioned.

SPX - Daily

Since my last post on 4/3/19, I was tracking a potential ending diagonal. It didn't quite fit the definition but the resulting pullback confirmed the end of that leg. Looks like that peaked on 5/1 that I have labeled as wave i or (a). A subsequent sell off for about a month to establish a wave ii or (b) before resuming higher.

The two scenarios I'm tracking is

1. A larger ending diagonal (Yellow trend lines) to complete wave 5

2. A potential larger wave 4 expanded flat, which would required a wave c? green down to challenge the Dec 2018 (ha! Thanks Pedro!) low. I have that labeled as green a, 4? or iv?.

I lean towards option 1 at the moment as the market is trading above it's moving averages and the breakout over 2954, the previous resistance area. Until those fail lets go with that. Should they fail, then we may have to pay attention to option 2.

SPX - Daily

4/3/19 - AM Update

Sorry been a while again but that's ok. I think the market needed to hash out the potential ending diagonal I'm seeing in the count. We'll see. I'll look at alternate bullish counts to post should she challenge all time highs before a bigger pullback.

60 Min

Daily

3/4/19 - EOD Update

Though the ED option is not out, a much bigger swoosh lower would have provided better confirmation. However, the other option presented here basically achieves the same result and that is a five wave count completed. Obviously confirmation would be nice to see first. A break below the wave i of 5 high would be good to see.

60 Min

2/27/19 -

So far a good start to confirming the ED. If this is ready to go, lets see how far this pullback goes. 2625 may be a good target with a 38% retracement.

60 Min 

The Daily below is just a reminder of the bigger picture. The five wave count above may have just wrapped up wave i or (a) of either 5 up or b (green) of a larger wave 4 flat.

Daily

2/26/19 - AM Update

Adjusted the Ending Diagonal count. So far looks much better with a fifth wave throw-over. We'll see. Beginning confirmation would occur on the break down of the lower trendline.

60 Min

2/20/19 - 60 Min

Looks like a decent five wave count nearing completion with a potential ending diagonal near an appropriate round number of 2800?

60 Min

2/10/19 - Weekend Update

Looks like either wave a of 4 or iv is in or 4 or iv is in. Will keep an eye on the bounce off the 12/24 low. Primary view is a wave b bounce currently in the works. Alternate view is wave v or 5 higher is underway.

So far I count five waves up off the Christmas Eve low. (See 60 min chart below).

SPX - Daily

60 Min