SP500 Intraday Bullish Phase Update

So far this phase of the stock market has done nothing by soar in one direction and then move right back down again. Investors are having difficulty in finding a lasting trend. From the April low we could still be in a diagonal ‘C” wave rally. From the April peak, the SP500 crashed again but added a 3 wave zigzag move to a lower low.  This little 3 wave structure doesn’t fit unless it is part of an expanded pattern. If that is the case then this market could crash to the May lows, after which another shocking rally could soar past the March high.

I would have little room to spare if the next move happens, but final ending diagonal 5th waves can produce moves that will surprise many of us. There is nothing here that indicates that a bull market correction is already over. Any Cycle degree correction needs much more time and depth, before a new bull market will be ready to be unleashed.

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