E-Wave for the S&P 500 Index

[milkman2]

awesome chart! I agree that the whole run up since early june is more corrective than anything else. Note that today the DOW closed below its "steep uptrend" lower trendline (the one that you have drawn for SPX starting at June 4th low, going up through the June 28 low - and/or june 24/25 - lows); I don't know what to make of that. As well as that the MACD on the DOW has crossed over from above and that of the SPX almost. This would be a sell signal... the next few trading sessions will tell if we get a new higher high before a big leg down, or if the big leg down has already started