E-Wave for the S&P 500 Index

[RCKS]

"...The market has rallied enough since then that now bears would need to reclaim 6631 to indicate they still had even the near-term ball....."

http://www.pretzelcharts.com/

Recent updates have noted that, no matter what the market did next, it seemed likely that the all-time high was (at worst) a b-wave and hence not a lasting top (i.e.- still a bull market). The market has rallied enough since then that now bears would need to reclaim 6631 to indicate they still had even the near-term ball:



Bigger picture, SPX has yet again rallied up to the blue trendline after whipsawing red:



In conclusion, for a minute, bears had some near-term fun -- but for now, bulls have recovered all the levels they needed. Trade safe.