Not Much More To Add


Today’s action really has not moved the needle much in terms of the analysis.  

The only real addition that I can make is to tighten the support up a bit.  With the drop today, I will now use today’s low as the smaller degree support.  So, as long as the market remains over the low struck in the overnight ES session, we can be looking higher over the coming week or two.

Of course, should the market break down below the overnight session low, and follow through below 6900SPX, that would give us a much higher probability in the purple count noted on the 5-minute SPX chart.  

5minSPX
5minSPX
15minES
15minES
Avi Gilburt is founder of ElliottWaveTrader.net.


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