Base assumption is that the low near the open is a third wave low and that a fourth wave consolidation will form against 3259 or 3273 SPX before pressing lower toward 3194 tomorrow. If the bounce exceeds 3286, I will have to upgrade the morning low today to that of wave '(A) of [IV]' and now in the early stages of a wave (B) bounce.

You must be logged in as a Daily Analysis or Intraday Analysis subscriber to view the rest of this post.