Pretty Simple Right Now

I can honestly say it does not take a brain surgeon to figure out the market right now . . . assuming that brain surgeon understands markets.

If the market breaks out over this week’s high, then it opens the door to 2900-2920SPX.  However, if we break down below 2830SPX first, then the trap door opens, and it is only a matter of time before the market falls through it.

I wish there was more insight I could provide, but it all really depends on whether we can break 2830 sooner rather than later.  But, I will add that are a number of charts that still look like they need more of a “bounce.”

Enjoy your evening.

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