Still Set Up For Upside

Not much has really changed since my last update. The only thing that I can add is that we seem to be filling out a c-wave within wave (2) on the 5-minute SPX chart. And, to remind you, as long as we remain over the 7700SPX region, this (1)(2) is set up to rally to the target box overhead in wave v of (iii).

Alternatively, a break of 7698SPX would suggest that wave iv in yellow was not yet complete. But, since the decline from yesterday’s high is looking rather corrective, and a break down below 7698SPX would normally be seen as an impulsive c-wave decline, I have to view this as the lesser probability path for now.

And, again, as long as the market continues to maintain support and then complete a 5-wave structure as presented in yellow, then we could very well be setting up a rally pointing north of 9000 and taking us well into 2027. But, we will take this one step at a time over the coming weeks.