SPX500 ZIGZAG COMPLETE

If this is a 4th wave we are in, it would be a weird one at this point.  I have the move labeled Minuette Blue.  Notice that the move down from the high is in five waves when it hits the Sept 15 2979 low.  From there the index trades sideways in a triangle like pattern.  However, the sharp move down to the Sept 18 2977 low takes out the triangle.  Count wise, the move can be counted at a double three but I just recounted the move a let Minuscule Blue-A make the new low instead of Micro Black Circle-B.   Corrective Minuette Blue-(b) completes nicely at the 3007 hit Sept 24th.  Check out the nice channel it creates for catching the drop which it did in five waves.  Nice!  The move up since looks impulse to the upside but it weak looking.  Keep in mid that there is a count for an bigger drop to the downside.  But things look good.  I think today’s 2962 low should hold price.  A move below this would be bleak.  I favor the break above the 2993.

The below count is a simpler. However, the channel is good but not as good as the above channel. Looking at it this morning. I did not see this yesterday. But it fits much better. Remember to keep things simple. Just the same, at this juncture its the same thing. I expect a move up. If the index keeps dropping

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