Not giving up the ghost yet...

While the market started off initially lower this morning, it failed to follow through very far, holding well above the 2455 SPX signal support that needs to break in order to start looking confidently lower.

Therefore, all we have so far is what looks like a corrective consolidation off the high this morning, and my fear is that it is the 4th wave of an impulse up from last week's low. What I am watching for is a new high made above the high this morning, which if seen would allow for a possible 5 waves up from last week's low, thus forcing us to consider a more bullish outcome than the previous (b)-wave we were tracking.

I have attached a second chart with what I think that possible bullish path might look like, which can take price above last week's high in another extension of the larger wave 3.

$SPX - Micro - Aug-15 1222 PM (30 min)
$SPX - Micro - Aug-15 1222 PM (30 min) Elliott Wave Chart
$SPX - Intraday - Aug-15 1222 PM (2 hour)
$SPX - Intraday - Aug-15 1222 PM (2 hour) Elliott Wave Chart