SPX: Today's correction closed the gap the market created on Monday and is now ready to rally on.
At the moment my preferred count is still possible:
Today's action was submicro wave (2) of [3] of iii. That would mean that tomorrow should be rally day.
However, I can see now a little different count in which we completed micro wave [1] yesterday and are now in [2]. In the end we'll get the same but the rally would just be a little bit delayed.
The magic number the market mustn't break for both counts is 1086. So, as long as it stays above I expect 1160 in the near futur.
Tomorrow is FED day btw, so expect the common increased volatility.
May be it's the perfect day for a big rally? : D
