$SPX - Market Analysis for Dec 27th, 2018

By exceeding 2415, the SPX confirmed that yesterday's bounce was indeed the higher degree wave (iv) of iii, or even possibly one degree higher than that as wave iv of C shown in green. The next question is whether yesterday's high completed all of the corrective bounce or just an a-wave of a wider flat. Either way, at least one more low is still expected before a more lasting bottom. 

$SPX - Micro - Dec-27 0655 AM (1 hour)
$SPX - Micro - Dec-27 0655 AM (1 hour)
Garrett Patten is a senior analyst at ElliottWaveTrader covering both U.S. and international equity indices as well as stocks.