Here is an update of my SPX count. The retrace from the low is sufficient in size to assume that is it a larger cycle 1-2 rather than a 3-4 as I previously thought. I am expecting one final push above 1165 to complete this correction from where I will be looking to take a short position on the completion of the wave 5 (v) of C. At present we may be nearing completion of a wave 2 of 5 (v) or we may still be in a wave 4 (iv) of C. I have marked the Fibonacci rations with wave 1 = wave 5 for both possibilities. If we move to below 1130 without first pushing up in a final motive wave this count will be invalidated. Look to get short from around 1180 with a stop at 1210. This is a medium term hold position which offers a great risk to reward.
For more info see Roy's latest video on the SPX.
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