Quick Update on the S&P-500 and Euro by Sid from ElliottWavePredictions.com

The Euro and the S&P just moved past the upside invaldation point of the triangle scenario. It is therefore possible that wave B black in the SPX already finished as either a running flat, or a WXY combination, and an upward 5-wave impulse for wave C black is underway, starting either from the Oct 18 or Oct 20 low. This is a bullish development, likely resulting in continued upward movement for a few more days. It is also possible (although I think less likely) that the upward impulse from Oct 4 is very nearly complete, with wave 5 of that impulse an ending expanding diagonal. I’ll be showing upside targets if upward movement continues, as well as alternate scenarios in detail in my weekend webinar. Registering is easy. Here’s how . .