I’m guessing to many, today’s opening micro crash in US stocks was a big surprise . Those observing the extremely bearish Nasdaq – Advance/Decline line and new 52 -week highs for the NYSE and Nasdaq Composite it could have been expected.
The SPX 5-minute chart courtesy of Trading View illustrates a possible short-term Elliott wave count.
Under this wave count the SPX could soon make another new all-time high.
A future blog will examine possible resistance and update the SPX daily Elliott wave count.