FX:SPX500   S&P 500 Index
80 0 2
Currently nearly flat indices, only a few long positions remaining. Immediate risk is to the upside.
Modified my green count based on price reaching 161.8 extension, a typical target for 3rd waves. As noted previously, enough waves are in place to consider minor wave 1 off the low complete, but only reaction at support region will differentiate between these two immediately bullish alternatives.
Purple alt c of B is not my expectation at this time. Wave 2 target would need to be reached, or broken, for further consideration of this alternative. A corrective bounce up out of wave 2 region - assuming its reached - THEN this count will require closer consideration. Even still, this would be a C of alt (4) - a bullish interpretation in the bigger picture. Purple alt (4) target region is in mid-1700s to high 1600s, but will need refinement IF probabilities increase for its occurrence.
My trade plan is to buy long in minute wave iv near support, seeking a test of the all-time highs. A deeper retrace into wave 2 would also be a buy, with reason to get more aggressive for wave 3 upon taking out the recent high.
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