The trend is still down as we made a lower low, but no higher highs, the levels for tomorrow are 1103.69 on the upside, and 1083.11 on the bottom.
Breadth for the day ended Flat, with 1516, advancers, and 1519 decliners, does not get much flatter then that, nor does it have the strength that a 1st wave up should be showing if the 5th was already in.
The indicators on the above chart are showing divergences now, but at the same time are in over-bought territory, that is just one of the reasons I believe that we have not put the 5th wave in quite yet.
12:53, FWIW, I went 25% short in WSS.
9:42, Here is the longer term view of the SPX, with my perfered count on it, as of now it looks like the 3rd has not finished as I thought earlier this morning, it seems we are in the iv of 3 count right now. The alternative count has failed to make an impulsive move up, so it is out the window. Breadth is only running 1.88:1, decliners, Boring!!!
8:17, FWIW, I sold my long position in WSS, for a 2% gain. 100% cash now 7:41, still unclear if the final 5th has been put in, the alternative count would have the 5th in now, and my prefered still has a lower low left to go after some consolidation for a 4th wave. If the 5th is already in, I would expect to see a rally, with-out over-lapping waves asap, that would leave no doubt that a short-term bottom is in, on the other hand, for the prefered count I would expect another day like yesterday where we are stuck in a range, with over lapping waves working on a 4th wave, before the final sell-off of the 5th wave
7:32, we had a test of support, and so far 1083 has held.