Morning Update - Market Analysis for May 12th, 2022

With the further break down, I have to adopt the more bearish yellow count for an extended 5th wave - at least until the market invalidates it by breaking back over 4005.SPX.  So, for now, I have to view the market was wanting to attach that 3700SPX region, at least until we get  a break back over 4005SPx.

5minSPX
5minSPX
Avi Gilburt is founder of ElliottWaveTrader.net.