INDUCan't forget about Mr INDU. This count looks pretty good. It is much cleaner than SPX
There are three options on the chart:
1. (iv) completed today
2. Only wave a of (iv) completed today
3. A very bullish nested (i)-(ii) , i - ii up **NOTE** This count may also apply to SPX
[5:20 PM Edit]
One more channel providing guidance for this uptrend. I didn't update the label at top but since the last update, the top channel is now approaching 1297.
[4:57 PM Edit]
BEAR COUNTI would be remiss not to show a potential bear count. 1276.75 is the key marker to watch for that would invalidate this count on SPX.
As I'm typing this I realize the chart represents the INDU. All the concepts on the chart apply to SPX as well. I don't want to recreate the SPX chart so just keep the key marker level in mind.
For INDU the level would be 11726.79, the end of wave 2 blue.
[3:46 PM Edit]
Combo Corrective Tri Option
Scw from the chatroom posted a RUT count that made me realize the SPX may still be forming this option as posted yesterday but just a larger more proportionate structure.
As usual, we'll see.
EOD Update
PREVIOUS OPTION1 - INVALIDATEDI can finally put this count to rest since there is a 4-1 overlap at the top here. Yesterday's alternate 1 count was moved into this position and I think it is a good one.
OPTION 1The market continues to stair step higher and once again respected the trendline since December.
This count shows a wave 4 corrective combination. Yesterday I took for granted and only showed the combo with the tri but should have also showed the combo that ends with a zigzag like the figure below.
Ibelieve that is what we completed today for wave 4. Notice on the chart I show an alternate option that may call for one more little low.
Wave 3 extensionThis option has (iii) in progress with iv of (iii) in today or a little more to go like option 1's scenario.
Does this pattern continue or finally come to an end?
