Nothing Broken – Yet - Market Analysis for Dec 3rd, 2024

While I clearly expect that we will see a break of support in the coming weeks, we have not seen that happen yet.  As I noted earlier in an alert sent out to our members this morning, our current initial support is 6020-6030SPX, and we have thus far held at a low of 6033SPX.   And, again, resistance overhead is 6102-6114SPX.  

If I were to outline the very micro count, I would say we may be attempting one more push higher in a 5^th wave of the c-wave.  However, a break down below 6020SPX would be an indication that this wave degree was likely done.

We will continue to take this one step at a time, as the market is forcing our hand into such a path due to the overlapping nature of the structure in waves of three.  It will not be until we test support for the alt iv pullback that the market will provide us with a larger degree indication as to whether a major top has yet been struck.