Prices for the SPX has exceeded the April 9th high. This increases the chance for higher highs for the SPX. The only way this will not make new highs is if we get a failed 5th wave or that we made a wrong count of the 3 wave looking down trend that started in early to mid April.
Todays reversal happened only at the end of the day, but still has not changed its bullish intentions. We would need to see if the ST changes direction within the CIT range to be able to initiate a short or sell out of the long positions.
MT: DOWN
ST: UP
PA: NA
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