E-Wave for the S&P 500 Index

[RCKS]

"...It wouldn't be unusual to see some backing and filling soon, the market has come a long way in a very short time....."

http://www.pretzelcharts.com/

Unless/until there is an impulsive decline, there's still not much to add to the past few updates. It is worth a mention that INDU still remains below blue:



SPX is still holding its latest uptrend line:



It wouldn't be unusual to see some backing and filling soon, the market has come a long way in a very short time. That said, I'm still hesitant to step in front of this thing -- as I have been since April 15, when I called it a "freight train" -- so take that as a heads up more than anything. Until we see an impulsive decline, bulls could still have more tricks up their sleeves. Trade safe.