More Whipsaw, But Lower Still Likely

I wish I could provide a high probability small degree micro count to you for this current intra-day action.  But, due to the overlapping nature of the action, there is nothing I can present and honestly claim it is a high probability count. 

So, unfortunately, nothing has really changed from the weekend analysis.  As long as we remain below 2140SPX, then I am immediately looking down.  If we are able to move up to the 2150-2160SPX region, then it means this 4th wave has just extended, and is still setting us up for a drop in November.

I have added a lower resistance zone on the chart today, which must be overcome for me to even consider that the bottom for wave (ii) has yet been struck.

1turnchart
1turnchart
Avi Gilburt is founder of ElliottWaveTrader.net.