12/4 - SPX AM UPDATE: Bearish Reversal

Wow what a morning. I made some slight adjustments to my bearish count from yesterday. So far, this may work. Let's see how far she slides.

Also keep my bullish count in mind. I also like Alphahorn's as well.

12/3 - SPX Options

Two options I'm thinking about right now.

For the bearish count, do I truly believe we have seen the conclusion of P2? I'm not completely sold, however, I do feel we may be seeing a trend change in the works. Perhaps it's just a wave c of a Minor B wave down before a final Minor C push higher to complete it all. I guess we will see.

On the bullish front, perhaps minute wave [v] of Minor C is forming a leading diagonal. By this count, I count waves 1 and 2 complete with wave 3 on tap tomorrow bouncing off the lower ascending trendline. A break below that trendline and I'll rule this count out.

Kenny mentions an expanding diagonal count for the DOW, which I also like. Will have to keep an eye out for this as well.

I have also included a SPY chart which highlights a few lines of support and the relationship of price with each successive MACD cross.

The wedge is tightening up from the orange one to the black one. I believe a break down below the black would be significant since this is a longer term trend line.

If price behaves the same way it has with each MACD cross, then I would be expecting a move to the purple trendline. Notice that would place price below the black and orange line and would fill the gap on 11/9.

Last but not least, a look at the DOW chart. Price has broken out of the red channel representing what I have has the final Minor 5th wave to complete Intermediate (C). Let's see where she heads.

12/1 - SPX Intraday Chart: LD?

12:40PM UPDATE:

Looking pretty decent as a LD. A wave v throw-over to boot. Let's see if wave ii hits 1009-1010 and then a three down to fill today's opening gap.





A possible Leading Diagonal or nested 1-2s off of today's 1112.28 top?

11/30 - SPY

My comments are on the charts. That negative MACD divergence has gone on for so long and the wedge is running out of room.

I am curious what the results will be from the daily cross.