SPX = A lot has happened since my last SPX post here. We had the Brexit drop and pop and hit an ATH on the pop.
Fortunately we were looking for a large down move off the 2120 high and were looking for a 1,2,3 down. The pattern was correct but it was an A,B.C rather than a 1,2,3. It did not matter at all to the profits made.
After the too far, too fast Brexit drop we went long at 2000 and were surprised when the market climbed to a new ATH. We are appreciative of the profits, however.
The new ATH has opened the possibility of a trip to 2500 in a Cycle wave V. There remains the possibility of a massive collapse down.
The question of which of these two possibilities is correct will be resolved by the depth of this next correction down which is due.