Morning Update - Market Analysis for Nov 4th, 2026

I am not sure what to really say, but the ES filled in the final waves and was off to the races.  I am now likely forced to accept a truncated low in SPX in order to attempt to align these two paths.  The main point now is that as long as we remain OVER the low struck last night in ES, we are going to track a bullish path as our primary.  Should it fail, well, then we will have to strongly consider the red top-is-in count.  But, for now, the bears will have to prove that to us. 

What the bulls need to do now is get back to the prior highs for wave (i) of iii of 3, and if they then provide us with a corrective pullback that can be a buying opportunity.  Should we then rally over the high of wave (i) thereafter, that would be a STRONG and high probability signal that we are in wave (iii) of iii of 3, and heading to 8500SPX as our minimum target for that path. 

Again, as long as over last night's low, we have to look higher until we see evidence to the contrary.