Just More Sideways Action

Unfortunately, there really is not much for me to add to the recent analysis on SPX, as the market is simply grinding sideways in a corrective manner.  

What I will say is that the decline we experienced from Friday's high seems to best count as a 3-wave decline.  That means the yellow b-wave seems to be the least likely of the paths right now.  And, as long as we remain over 6810SPX, the bulls remain in control.

But, if there is a path to take us lower, it would suggest that we are in an a-b-c structure pointing down to the support box below.  Yet, keep in mind, as long as we are over 6810SPX, the bulls can push us in a more direct fashion towards the target box overhead.