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SPX Update: Intermediate Buy Signal Triggered


A fresh intermediate buy signal has triggered, so the next few sessions are critical.


Finally, the bearish intermediate count is still viable. There are several factors still keeping this count on the table for the time being. The next upside target for this count is 1426, which is close-by -- so that would be an interesting target for bears to try and kill the fresh buy signal.

Click to enlarge

In conclusion, the market is still indicating that higher prices are likely before a meaningful top forms, and there are now additional signals suggesting that an intermediate low may be in place at 1343. I've outlined two possible short-term paths that should help decipher the next higher degree waves -- now all that's left is for the market to "do its thing." Trade safe.

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