SPX Index made a new high above 12/29 peak which opens another extension higher from 10/15 low. Move up from 2080 low is also taking the form of a (( w )) – (( x )) – (( y )) Elliott wave structure when Index is ending the 5th swing. Area between 2098 – 2111 can produce a 3 wave pull back before it turns higher again toward 2133 – 2155 to complete a cycle from 2080 low. We don’t like selling the Index & expect wave (x) pull back to find buyers in 3, 7 or 11 swings as far as pivot at 2042 low remains intact.
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