Thursday updates

Before the close update, because I have an appointment and will be delayed until later this afternoon. The SPX is still range bound in its 4th day of consolidation, most likely in a triangle that has morphed into a complex corrective pattern. Since the break-out of a triangle is supposed to happen in the same direction of the larger trend, and they normally only occur as the last correction to the larger wave, it should break out to the upside in the final wave to this rally. But this rally has been everything but normal, so we will see.
The blue, bearish option is still my prefered count because this rally does not have the feel of a 3rd wave up (red, bullish count), leaving the only bullish option as a leading Diagonal, which would follow the same road-map of the bearish option for a few days, as it draws out its 2nd wave down before heading higher in a 3rd wave up.
Tomorrows unemployment numbers could be the trigger to get the SPX out of this tight trading range. The early reports are not very bullish sounding, as some analyst are leaning to an increase in the unemployment numbers.
The Trend Finder still is at neutral and Breadth currently is running 1.32:1, decliners, boring, and a good day to run to town to get some tasks taken care of. I will put together a post this evening if there is enough new information to make it worth-while. Tomorrow could get exciting if the numbers exceed expectations!!!!
Click here for a live, and updated chart!!!
8:12, This side-ways action is moving the SPX even closer to final support on the short-term Fib fans

7:59, This is a quick chart of the Russell with some trendlines, it has now reached the corner where a break-out should be expected. The Russell have been much weaker then the SPX, and has not been making higher highs for the month of August.

Click here for a live, and updated chart!!! 7:53, Amazing the Bollinger bands have remained this tight for so long, this supports the on-going "B" wave.

Click here for a live, and updated chart!!!
7:37, The SPX seems to still be stuck trading sideways, and that is consistent with a "B" wave. The Trend Finder did have four buy signals go to sells so for this morning, leaving it at Neutral, or cash.
* I have been experiencing Internet connectivity problems since yesterday morning, hope it clears up soon!!!