SP500 Update

What does the Trend Say?

Part of the Weekly Update, to be followed by the big picture.

The market continues to move in what I consider to be x of wxy of wave 2 of ... whatever. Wave x can take many shapes and what is indicated on the chart is a possibility, not a forecast. Currently, there is no high probability setup. We keep holding the assumption that the main trend is down, however the roadmap is complicated not a straight line.