Here's the bullish count from Chart 1 in Friday's end of day update:
SPX 1 min - bullish count:
If the labelling is right and we're in wave iii of 3 of (3), we first have to stay above 1176.12 which is the wave i high. Take that out in an assumed wave iv and this count will look unlikely. Even if we stay above it and make a new high, subsequently taking out 1171.17 will invalidate this count.
Here's the moderatley bullish count mentioned in that Friday update:
SPX 1 min - moderately bullish count:
Here, we have to stay above the wave iv low at 1172.38. However, that low may be at 1171.17, depending on how you label the triangle, so really, I'd like to see that low taken out before I'd think this count may no longer be viable.
Here's the bearish count from Chart 2 in Friday's end of day update:
SPX 1 min - bearish count:
Pretty straightwforward here - we have to stay below 1184.38 and take out the low of wave [1] which is at 1166.71, but taking out 1171.17 would be a start.
