Tuesday's Market 10/06/2015

I’ll apologize in advance for not having a lot of time to get into detail, but considering the moves in the SPX the past few days I wanted to at least update my count. I should have more time in the next couple of days for a more thorough analysis.

From Friday’s low I count 5 waves up to 1935.82. After a short pullback, the SPX appears to have completed another sequence up. It would seem that another complex wave is forming, Which should bring the SPX, at least temporarily, back into the 1935-1921 range I have talked about for the last week or so. There should then be some choppiness in that areas, with a subsequent break below 1921 most probably signaling a strong move to the downside. My downside target remains below 1748.