The focus this week will be on the red/green indicator. The good news for bulls is that the often leading Real Estate index is sitting above it (and for now, is the only index on a confirmed Long/Buy Signal). While the wave count presumes the low is in place, all the rest of the indexes need to break above their respective red/green indicators to confirm the nest leg up to new all-time highs.

I’m only showing two possible wave counts going forward. The top chart is the favorite count that BTC is off to an intermediate wave (1),(2), minor wave 1,2 start to this cycle. If correct, then the next move should be a very impulsive leg up to new all-time highs and beyond. The lower chart is the more mature count. This count presumes intermediate waves (1),(2),(3) and (4) are complete and only intermediate wave (5) remains for this cycle. This count opens the possibility to a much short cycle than most are anticipating based upon historical cycle length. But, since intermediate wave (3)>(1), intermediate wave (5) can extend indefinitely and thus reach any all possible targets for this cycle.

The SPX count is shown on a macro basis on the daily chart and again on a more granular scale on the 30 min chart down below. As you can see, the SPX traced out a pretty definite abc down to its recent low, which I’ve labeled minute wave [ii] of minor wave 3. The minor wave 2 low must not be breached for this count to remain viable.