Usually in the final wave of a rising EDT there's a throw over of the rising which this supposed EDT now has.
Momentum evidence is mixed. The 15 - minute has no divergence which is potentially .
The which had been rising this week was unchanged vs. the reading made on 10/24/19.
NYSE 52 - week highs on 10/21/19 were 289
10/22/19 were 294
10/24/19 were 253 - divergence
10/25/19 were 230 double divergence
VERY IMPORTANT!! On 10/25/19 the SPX was .70 from breaking above the all -time high made 7/26/19 at 3028.00
If the SPX rallies 1 tick above this high it will eliminate the long - term count discussed in my 10/11/19 SPX post and is .
If the SPX moves above 3028 avoid new shorts and begin covering existing shorts with the goal to cover all shorts within the next few trading days.
What about going long? Not on the initial break above 3028. The US stock market has been in a rally for several days and the potential break above 3028
is not the best area to go long because you would be vulnerable to a short term pull back. Wait - holding cash is sometimes the best position, there will be other opportunities.
If the SPX can break above 3028 it will most likely do it on 10/28/19 - if the SPX fails to beach 3028 and goes down, it will be more evidence that the EDT is complete.