E-Wave for the S&P 500 Index

[rimshot]

chart #2 Link posted earlier was a duplicate, so
here is the chart #2 Link which is accurate
and I am repeating the comment for the chart
in this Post

chart #2 -

plot of the S&P 500 index new 52-week highs Count
and new 52-week lows Count
AND
plot of the S&P 500 index new highs minus new lows Differential'
smoothed with the 10-day moving average

overall rising uptrend for the metrics, lasting a number of months ...

be vigilant if the character changes at a future date,
though
be open minded the upside has the potential for now being
in its early stages ...
time will tell, and trusting the actual chart evidence
is the prudent course of decision making about risk/reward
for holding with the potentially bullish trade strategy until evidence
to the contrary actually develops

https://c.stockcharts.com/c-sc/sc?s=SPY&p=D&yr=0&mn=10&dy=0&i=p83085167028&a=592217701&r=1579328076287