Getting Closer - Market Analysis for Apr 24th, 2025

With the market just barely holding the pivot on the SPX chart, it did break below it in the overnight session in the futures.  So, it did put into question whether the market intended to head directly higher in the red count.  This far, I have to still keep that as the primary count.  It would take a break down below yesterday’s low to suggest otherwise.

For now, I would like to see the market rally to the target box for wave v of 3.  Thereafter, I would expect a 4^th wave pullback, followed by a 5^th wave rally to complete this [c] wave north of 5600SPX.

The bigger question is what the market does after we complete the [c] wave.  And, we have discussed the paths many times, so I am not going to repeat it.  

For now, support is yesterday’s low, and as long as we stay over it, I am looking higher.  A break down below it opens the door to the yellow count.