|SPX 11-12 ending-diagonal finale count|
I tilt my head and squint my eyes, and the sharp October rally still looks like two five-wave impulse moves north, joined with a little correction -- i.e. an ABC move. This would fit an ending-diagonal count that has been lurking since the August 24 mini-crash lows, which began with an initial bounce in 3 waves.
In this scenario, the October FOMC Minutes released next Wednesday are dovish and accommodating once again, sparking another short-squeeze off the .382 retrace at 2022 SPX.
The sharp 5th wave could then terminate either at the wedge boundary on Black Friday, or in the middle of the wedge on the December FOMC announcement itself. AMZN P/E of 1000?
Or, of course, it never ever ends ...