SPX Wave d3/D3/W5/M3/Q5/Y5 ALTERNATE d3/D5/W5/M5/Q5/Y5

Well it looks like the base building described in the January update is coming to a close!

There is a likely alternate count, but either way the breakout is coming and is pointing to a September high challenging 2400.

Big picture first

SPX September high

And in more detail we can see the current count. The reason for the alternate count is 2 fold - the depth of the 30 January low, and often 5th waves are pretty vertical!

We should have the breakout late this week / early next week, with a first week May high followed by a retest of the breakout lin a week or so later as shown with the detailed count below.

SPX breakout detail

The Russel, Composite, NYA and Wiltshire have already made new ATH and the DOW and SPX are lagging.

 

Marc

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