Between the five indices cover none of them have the exact same wave count. They are all different and I have to try different short term wave counts as well.
Right now I see a declining diagonal pattern about 7 days old, which could give us a surprise price rally. There is no price support worth mentioning because most price support forecasts never hold before the digital ink even drys. Longer term I’m bearish and it’s not rocket science to dig up a reason why!
The trade war is on everyone’s lips and it will not be over anytime soon. Of course, the President thinks he can keep “Tweeting” trying to keep the markets afloat. Sooner or later the “Tweets” no longer will have the same effect as investors will get bored with them.
The SP500 is not loaded down with as many tech-related companies, but the Nasdaq sure is. I will post the Nasdaq as its chart is close to short-term support.