I Am Looking Higher

With the market still holding support, I am viewing the recent lows as quite important in my analysis.   For as long as we hold over those lows, my view is still going to be represented by the green count, pointing us north of 6200+ over the coming months.  

Within that green count, I am now looking for a c-wave rally into the resistance box noted on the various charts.  In the green count, that would be the [a] wave of a bigger a-wave of wave v.  

In the smaller degree structure, which I am presenting on the 5-minute SPX chart, I am showing an alt-b on that chart as I am unsure if the c-wave has begun.  As long as we remain over 5620/25SPX, I can look higher in a more immediate sense with a potential 1-2 in place for the c-wave.

What will be of utmost importance in the coming week is how the market pulls back from the resistance box overhead.  I have outlined it many times but it is always worth repeating.  As long as all pullbacks from this point forth take shape as 3-wave corrective structures, I will continue to look higher in the green count.  However, if the market provides us with a clear 5-wave decline from that box, that is a STRONG warning that the red count may be setting up a decline towards the 5000SPX region and making it more likely a long-term top has indeed been struck.

So, I am still keeping an open mind as to how this will shake out in the coming weeks.  But, in the near term, I would like to see us remain over 5620/25SPX, and begin a rally to the resistance box overhead.