EOD Update
SPX - 60 Min EODOk. the trendlines (ascending) are still intact. The ED option presented earlier today takes a back seat to the count above.
We either have a nested [1]-[2] (1) - (2) setup heading for higher highs or today's late day pullback was subwave 4 of the ED as labeled in gray. Subwave 4 may have some more to go and tap the blue or red trendlines.
I can see this happening as the market sets itself up before we start earnings season this week.
The 60 min MACD did cross down and signaled a sell, however, the bears couldn't break all the ascending trendlines.
12:50 PM
Well this bounce into the close is telling me that the little sell off is most likely subwave 4 of the ending diagonal. The bears can't seem to get it going.
I'll update my overall counts later today.
12:30 PM
If the market breaks 1151.41, the subwave [4] low, this ED below would be considered complete.
11:58 PM
Been tied up in meetings all day. This may be a good count right here. Everything today just does not look impulsive towards the upside and the 60 min MACD is rolling over.
We'll see...
