You can see the 1220ish resistance and the 1173 support in the daily. These are 2 key levels in my opinion. A break below 1173 is bearish and may confirm a Minute [v] of Minor 1 down. A break above 1220 likely confirms Minor 2 wave count.
And for now, prices are stuck in between and may be for a while.
Price action seemed constructive today for the bulls. Intraday, short term overbought conditions worked themselves out a bit yet prices maintained ok.
The Minute [iv] count is still in play but I admit I am losing faith in this count though we have room for a pop up to 1215 SPX or so. I'd prefer to see the market rollover in Minute [v] down, and it may still, yet the market "pause" after the mini-crash probably needs more time to play out. 1-2% price swings are a lot less violent than 4-6%!
We may as well explore the possibility this is Minor 2 wave up. Specifically looking for the top of Minute [a]. Then pullback in [b] and a strong upside [c] - perhaps timed with Jackson hole.
Either way, I'm long term bearish as usual. Just trying to figure out the best entry points again.