Market Still Grinding Higher

Yesterday we saw the market gap higher and then continue to push higher into the EOD. Today we saw the market give us a very small consolidation followed by another grind higher towards the micro third wave target zone. So with that there really is not too much to add to the analysis and parameters that were laid out yesterday. So while I would expect to see some consolidation/pullback in this region as long as we remain over support the pattern still looks incomplete with this continued push higher so the near-term pressure will remain up. 

We are now closing in on the wave (3) of 3 target zone which comes in at the 6000-6055 zone and as long as we are able to hold over the 5949-5900  zone then this is the next near-term upside target. From there we still would need to see the wave (4) hold support and then another push higher to fill out the wave (5) of 3 towards the 6119-6259 zone overhead. 

The larger degree breakdown levels still remain at the 5819 level and then the 5669 level. Should those levels break then we would have an initial warning sign that we may have already topped in all of the wave v as shown in yellow. We would however need to follow that up with a break back under the 5400 low to further confirm the larger degree top is indeed in place.  

So for now the bottom line remains that as long as we remain over support the near-term pressure will remain up and this pattern does look like it has a bit of unfinished business to the upside before it is completed.