E-Wave for the S&P 500 Index

[RCKS]

"The market has proved incredibly resilient since the "tariff crash" (which seems like a lifetime ago already) and of course is back to yet another new all-time high...."

http://www.pretzelcharts.com/

The market has proved incredibly resilient since the "tariff crash" (which seems like a lifetime ago already) and of course is back to yet another new all-time high. Let's look at where we are in the charts.

First up, I don't need to annotate this one, but it shows that SPX has formed a potential bull nest over the near term. Bears would need this to be part of a diagonal (or b-wave), otherwise it's just going to run higher for a while (at least a few weeks):



Bigger picture, SPX is back into the blue channel:



Much bigger picture, I still hold the same opinion I've held since August: Unless/until bears can whipsaw that blue and black breakout, they just don't have much to chew on:



In conclusion, unless there's a fairly direct reversal to make things interesting again, it's likely that bulls have the ball and a new bull nest to run with. Trade safe.