SPX Ending Diagonal Possibilities

Here is my bearish SPX Ending Diagonal count. In this count the market has already topped out and completed green wave 2 (see my last post for a daily chart of my longer term count). Although it is hard to make out on a 4 hour chart, there is a possible Leading Diagonal down from last weeks top, and we have reversed sharply in a wave 2 which is a common occurrence after an LD. We will know very early in the week whether or not this count is correct, and while I am hopeful it is, I think it is more likely we push up one more time before reversing as per my next count.

Here is my other Ending Diagonal count, which is bullish in the short term. As you can see price bounced hard off the lower trend line support during Fridays session, and we may see some follow through on Monday in the form of a throw-over fifth wave. If this is the case I would suggest taking short positions from the 1140 level which should offer strong resistance. I do not expect price to break much above 1150 however if it does I will have to revise my longer term count as this will most likely invalidate my ED counts.