The sell/short Alert was eliminated on the Nasdaq thanks to its bounce today. Otherwise, the Alphahorn Swing System remains status quo.

I’m showing an alternative micro/short term wave count that could apply to either macro count on the 2nd chart down. The BTC wave count scenarios shown below offer an ultra bullish scenario up top and a more mature scenario below it. The ultra bullish count suggest this bull cycle continues into 2026 as it is only halfway through its wave count. The current wave, minor wave 3 of intermediate wave (3), should propel BTC to significantly higher highs exceeding $150k if this count proves correct. This wave count would lead to a top for BTC over 200k and probably well over it. The more mature count is that BTC is in its final intermediate wave, intermediate wave (5). This correlates to a fall top for BTC. Yet, my target range for this conservative count remains 192k-203k. The new alternative near term count on this 2nd chart shows the possibility of a leading diagonal for minute wave [i] of minor wave 3. If the top near term count is correct, then we should see BTC impulse upward through the upper trend line of the leading diagonal. Should that line provide resistance and a catalyst for a sharp decline, then this count will be the favorite for the near term.

So, as expected we’ve reached an immediate term high for the SPX. Now, we’ll see which of the immediate term wave counts plays out. I’m showing an alternative count on the top chart. This count presumes minor waves 1 and 2 are complete and now we are witnessing minor wave 3 subdividing into five minute waves, with minute waves [i], [ii], and [iii] complete and now minute wave [iv] underway. This count will prevail as the favorite count should this pullback be shallower than a 38% of the move up off the April low anticipated on the lower chart. Otherwise, the big picture remains divided between the ultra bullish scenario up top and the more mature scenario under it.