Possible Bat Forming

In my initial mention and entry at the low I posted the Elliot ABC corrective pattern.

Then I remembered we live in the age of eternal stop hunting. Upon some further consideration, I suspect if my bear thesis is correct we'll likely see a new high first.

Probably the short being 6160.

The difference between the ABC and the bat D leg does not matter at this point. Both are strong buys to the retracement levels.

Just a heads up because the possible bat pattern changes the way we go about fading the rally (And I will be trying to fade a rally if it comes).

At things stand, I suspect 6160 is the destination for SPX.

All long stops are in profit now, just waiting to see if we can break up.