SPX Update: Patients with Patience

The last couple updates have opined that bulls continue to have the edge, and the market has since borne that out.  Presuming this wave is to become a straightforward impulse and not something weird and wacky, then it might roughly follow the path laid out below (though would likely stretch out over a bit more time than I had space to show on the chart):

Bears will get another inflection zone at the blue 3/c label, at which time it's always possible for a flat to develop (a flat is represented by the black "bear: C" at the bottom of the chart), but for now, I continue to lean toward the simplest explanation of the fifth wave running itself out now.  Be aware that after this wave completes (ideally up near the blue 5 label), then bears could finally get something significant going.  Until then, patience probably continues to remain the order of the day for bears.  Trade safe.