5/14/2020 - AM Update

Looks like today's open is gonna gap down into wave 5 of i of c of (2) to challenge the 2800 level once again. Keep in mind yesterday I posted the possibility that wave (2) could be wrapping up as a flat with this last gap down for wave 5. So instead of this five wave structure counting as wave i this may just be all five waves for wave c of (2). MACD is indicating otherwise but just keeping that in mind.

SPX- 5 Min

 If the bounce at the close yesterday was wave ii of c of (2). Today's opening would equal to wave iii down of c of (2). c=1.618*a at 2705.

SPX - 60 Min

5/13/2020 - Mid Day Update

[Update]

This is what the squiggles look like

5 Min

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Something to consider is a wave (2) flat ending with today's touch of the 2800 level or thereabouts.

We will just have to see. Some form of bounce off 2800 will occur, whether for wave ii of c of (2) or the start of wave (3) higher.

First, let's keep an eye on this current flush as some form of extended wave 3 of i of c of (2).  Breaking 2800 will help confirm that.

SPX- 60 Min

5/12/2020 - EOD Update

The market put in a little head fake at the open and reversed course to produce wait I count as five waves down for wave i of c of (2).

SPX- 60 Min

A look at the squiggles down.

5 Min

5/11/2020- EOD Update

Looks like the market needed a few more squiggles to complete wave (c) of b of (2). The alternate extra bullish nested (1)-(2), 1-2, i-ii count is still in play.

SPX - 60 Min