8:10, The SPX made another high this morning, confirming the trend is indeed up. I have now put question marks on the red 2, besides the one question mark I have on the 5th. IMHO, this rally can no longer be counted as an orthodoxed Impulsive wave, there are just too many over-lapping corrective waves to be a real impulse wave. One reason might be because of the manipulation of the Treasury market from the FED has carried over to the equities markets making the shorter-term Elliott wave counting useless, or unreliable. Even so, the daily indications are still showing a topping process.
The SPX has been alternating between short term bullish and bearish Fib fans. Now it is currently in a bullish fan.
7:44, The daily chart of the SPX has a batch of resistance at the 1210 level, and is currectly riding on support of the gray Fib fan.