RonBjustrom

RonBjustrom

Should be in our final push higher to end this rally from 4100. And we should get some sort of a retracement. And then we'll find out if we're going to 5,000 or 3,000.

RonBjustrom

A small possibility of another triangle for a bullish scenario. If this is a 1-2-3 and not a A-B-C for a wave 2. We could be in a reverse triangle for a bull rally.

RonBjustrom

Updated chart. The triangle is a good indicator that the thrust higher off of the triangle should be the final higher high and complete this rally off of the lows. We're over due a retracement either way if the market decides to go higher or lower. In this rally we haven't had a 38% retracement for the 22 days that we've rallied. Whether you'r ebullish or bearish...

RonBjustrom

Need follow through tonight and tomorrow. The high should be in by 80% or 20% chance it could go higher.

RonBjustrom

Looks like a bigger triangle has formed. Look for one more new high.

RonBjustrom

Here's the big Picture. This could be a C wave correction or the beginning of a bear market.

RonBjustrom

I didn't like my previous post and decided on this one instead.

RonBjustrom

This could be another possibility. We could get one more new low.

RonBjustrom

I think this selloff could go deeper with some bad news mixed in. I think the minimum would be 4165 and possible to 3800 with some war news over the weekend. The low should be in by Friday or Monday.

RonBjustrom

Lots of gaps below. Would be surprised if some of them don't get filled. Could have 1-2 I-II set up.

RonBjustrom

Lots of gaps below. Would be surprised if some of them don't get filled.

RonBjustrom

Possible wave count for this rally to the downtrend line. Except one more new low. 4150-4165

RonBjustrom

Looks similar to 2015 C Wave correction. This could also be a possible C wave correction.

RonBjustrom

This 2015 C Wave correction looks very similar to our current chart.

RonBjustrom

Don't get too Bullish yet. Should see one more new low.

RonBjustrom

Here's the bullish count. Watch the close today and see if we close above or below the downtrend line.

RonBjustrom

Sorry I was in too big of a hurry. My previous count can't be a Contracting Diagonal because it takes too much time for wave 4 so it has to be a expanding Diagonal.

RonBjustrom

The SPX is at its downtrend line. This is the only way I can count this rally as a C wave to keep a bearish count alive otherwise we have to which to the bullish count. This would be the last stand for the bears. Either way I except new highs in a few months.