I Have Been Waiting

As you can see, this update is coming later than I usually write the afternoon updates. In fact, I have been waiting for some further market action which could direct us to the manner in which the market is going to resolve up here. But, alas, as we have been simply grinding up in the overnight session and back down in the daytime session, the market has not offered any further insight.

So, I am going to offer my apologies as there is nothing further I am meaningfully able to add to the weekend analysis. As long as we remain over the noted wave 4 low on the 5-minute SPX chart, I am reasonably expecting us to rally to new highs and complete wave 5 of the c-wave of wave (v). However, should we break down below that low, then we have the other considerations outlined in the weekend analysis.