Since last update, bulls have retaken 5123 SPX, which implies they have more in the tank than bears right now. There are still, of course, bear patterns that could materialize, but considering SPX turned up right at the Red C inflection (three waves down being an ABC, and ABCs being corrective patterns), it's more of a stretch to cling to bear patterns than it is to assume bulls are probably going to get what they want (new ATHs, ultimately).
COMPQ also turned higher at its inflection, and as mentioned two weeks ago, probably NEEDS another high to start looking like a more complete pattern:
In conclusion, bears could always whip out a surprise turn here, but so far, the stars appear to have aligned for bulls. Trade safe.
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