One more trip over the high is possible yet not required. The black and the red count below are equivalent until they are not by The Principle of Equivalence. This is the SPY 4-hr CFD. Prices today were whipped about by the FOMC results, the imposition of 50% tariffs on copper, and by mega earnings after the close.
It is possible that Minor B started today, but we must watch into tomorrow as the institutions might want to bite on the mega earnings news. The red count allows another trip over the high. But the wave counting remains ugly with few good true impulse waves. So, we will learn what we can from wave invalidations or resistance points.
Have an excellent start to the evening,
TraderJoe
The Expanding Diagonal has invalidated in the after-hours. This is likely five-up, whether it makes a new high or not.
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TJ
SPY 1-Hr: gap fill. Watch the low or else possible much longer triangle in time if the low is not exceeded.
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TJ
SPY did undercut the prior low.
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TJ
Expanded diag?
Deletepossible; depending on the reaction to AAPL and AMZN earnings after the close. Let's see if that holds up. TJ.
DeleteRegular reminder that today is the last day of the month, with the usual sloppiness from likely window-dressing. And tomorrow is the first of the new month with possible inflows from the usual passive sources (401k's, pension plans, dividend roll-over schemes, company bonuses, etc.). TJ.
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