Replies to post #49191 on Short Term Trading Member Forum

[jglider]

Mid Jan looks important

[techcharter]

SPX - On alert for next big move

The past ~7 days of trading show a triangle Elliott wave. A triangle is consolidation before the last move in the larger trend. This morning's pop in the futures is classic post triangle action. The pop is the last move before another larger consolidation taking the index down to 2600, or THE top of the move out of the 2009 lows.