A less bullish alternative for the SPX . .

Here’s a shout out to Conan M. for sending in this alternate count, which depicts a possible ending expanding diagonal to complete an upward impulse from the Oct 4 low. All of the requirements of an ending expanding diagonal have been reasonably met. If this count is correct, the question moving forward would be whether this would constitute the end of the corrective upward movement altogether, or if it would more likely be just the end of wave A black within wave B burgundy. The biggest problem I see with this count is that the Dow cannot be counted in a similar fashion, and neither can any of the commodities or currencies, leading me to believe that a couple more days of upward movement is likely.

All of this, targets for trend changes, and my ranking of the different wave counts will be covered in detail in the weekend webinar.