SPX is against the hourly Cycle Top and upper trendline o fits Broadening Top formation. It may have completed a Micro Wave [3] of Sub-Minuette Wave v yesterday. One more surge to go.

My Model suggests resistance at 1943.00, but Wave relationships suggest a pop to 1951.00. It could be anyone’s guess.

Yesterday was day 120 and the Cyclical factor is 120.4, so my model rounded down. However, that gives us up to 3 hours of rally this morning as a possible scenario.

VIX may be in need of one more push lower. However, I cannot tell whether it will make a new low or not. If it does, that would change the Wave structure and extend the Cycle even more. Should the Master Cycle extend, it will do so into a Cycle Pivot today.

TNX appears to have made a 48.5% retracement of its initial impulse today. It appears to have reversed out of the low and may be ready for a major breakout.

Regards,

Tony

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