Nothing To Write Home About

As the market continues to grind higher, there is nothing really to note as long as we remain over 2935 on the S&P 500 (SPX). 

At this point in time that is the micro upper support which will keep immediate pressure higher towards the 2965 SPX region.  That would be the minimum target I would want to see to complete wave v of 3 of this [c] wave.

However, if the market is able to break back below 2935 SPX, then I would be forced to track this v of 3 as an ending diagonal.  But, as I highlighted in the bigger perspective discussion in the weekend update, as long as the main upper support holds, the market has a clear path up to the 3011-45 SPX region before we see the next major top.

5minSPX
5minSPX
60minSPX
60minSPX
1SPXdaily
1SPXdaily
Avi Gilburt is founder of ElliottWaveTrader.net.