The market is creeping toward the last resistance as shown in the daily below. Prices have closed over the bigger resistance line. The market looks tired though with only a 1:1 advance ratio and 1:1 up volume ratio on the NYSE today.
Also note how time-wise, Minor 2 is now more than adequate in time. In fact it is more than a .618/.382 ratio so its primed.
We have a cluster of Fib relationships coming up from 1389 - 1405 SPX.
Squiggles shows the count is perhaps missing wave (v) of [y] of 2.
NYAD count is very mature.
SPX weekly. Prechter's 7 - 7 1/2 year cycle is waning. The approximate midpoint of the cycle is October. It is now almost August. It makes sense that the cycle weakens prior to its midpoint. Thus Minor 2 up is still the call here with Minor 3 due to come shortly.