19 Feb 2016 - Correct Correction

The SPX has pushed lower to touch the high end of my corrective range.  However, I cannot say that the push lower is over and that we should rally past this weeks high.  Many are looking for a price rise into next week, and while dates vary they all do look for a high to be in place.  Im inclined to see price move near 1980-1970 (near 75 day MA), but that is too far away to speculate on.

ST still remains on the Up and Up, perhaps accelerating since the signals have entered the OB range.

This weeks rally is indeed an impulse probable for a wave-c.  Whether a destination for a wave 2 is still to be determined.  Remember that we do not need to make a 3 wave pattern to call it a c-wave.  In fact, we could well be close to a high as soon as early in the week and push down really hard.

SEN: Bearish
ST: UP
PA: UP