Stocks rose on dovish comments from FED chair Powell testimony in front of the House Financial Services Committee. There is now a new 0 - 2 trend line until there isn't.
|S&P500 Cash Index - 2 Hr - New 0 to 2 Trend Line|
This A, B count in SP500 also recognizes that there was downward overlap in the SPY at B, as well. The current 1 / a, 2 / b is in recognition that the C wave up 'could' be starting a diagonal, but there are insufficient waves to make that claim yet.
Have a good start to your evening.