E-Wave for the S&P 500 Index

[RCKS]

"SPX remains in the light blue circle inflection zone, so it remains to be seen if this will generate a reaction. If this is blue ii, then a reversal should be on the horizon. If it isn't, then it isn't, and we may know that soon enough, too."

http://www.pretzelcharts.com/

"I think we only need one chart today. Weeks ago, I said that "unless/until blue 2 is broken, we're going to presume we're in blue ii," and we're now at the "do or die" stage of that presumption, since blue 2 is not far overhead. So while Red 2 remains possible, it doesn't gain significant traction until blue 2 is broken."



"In conclusion, SPX remains in the light blue circle inflection zone, so it remains to be seen if this will generate a reaction. If this is blue ii, then a reversal should be on the horizon. If it isn't, then it isn't, and we may know that soon enough, too. This market has been tough because we've been stuck in a trading range for almost a year now, and patterns get increasingly difficult the longer a range continues. Trade safe."