8:50, The SPX made another short-term higher high above 1157.16 and might be in a new channel(black).
8:42, The Trend Finder has gone back to neutral.
7:18, This mornings move above the 1140 level turned the sell-off from 1157 into a three wave move, which is corrective, so now we are back to an on going series of corrections that started back on September 22nd. Two possibilities exist, an Ending Diagonal, or a long drawn-out 4th wave, both which have became filled with complex corrective patterns, and that opens the door for multiple ways to count the squiggles lowering the probabilities of any one count being correct. Resistance is at 1157.16, and 1173.57
Support is at 1131.87, and 1122.79.
The short-term trend is neutral until the SPX breaks support/resistance making a higher high, or lower low.
7:13, Right back to where we were yesterday, stuck in this trading range where the SPX cannot break-out with conviction. Volume yesterday was a killer for the bears case.