If you take a look at the long-term count, notice that thin blue line I had connecting waves 1 and 3 on an Elliott count -- points #11 and #21 on the 3PDH?
|SPX 4Y 3PDH|
See that line? We threw a pin at it with Monday's high of 1955 SPX. We zoom-in for a peek.
|SPX daily 3PDH close-up|
I still want to see us find support in the 1915-1920 area before starting a larger leg down with next week's FOMC news release.