So, 1150 wasn't the top of the rally from the August low. However, on the ending diagonal count, one of the alternatives was that we were still in wave v (see yesterday's end of day update). If that's the case, we may have seen it complete today - its invalidation point was 1159.22:
SPX 1 min - ending diagonal close up:
If the alternate is playing out, with wave iv at 1141.02, then the invalidation point is at 1168.23. Needless to say (but I will), until we see a decisively impulsive decline, the risk remains to the upside as always. If we take out 1141.02 without making a new high, I might have more confidence in this labelling.
