SPX Micro-EW Alternatives
· SPX is similar to ES, but I show a bit more detail.
· Both orange and black bullish triangles are possible.
· The key detail is a small sub-micro triangle, developed on 7/15016, for micro-B.
· This precludes any impulsive option down from the 7/10 high, e.g., from red circle-ii.
· Only the red diagonal remains as an option for red (i), which is somewhat early to bet on.
· That red diagonal could also fit into an expanded flat for green circle-ii or blue circle-iv.
· There is also an alternate bearish triangle (not shown) still in progress for wave (b), from which wave (c) down would fit green circle-ii or blue circle-iv.
· Since assuming the red triangle is premature now, triangle options become more likely, and the red count is less likely.
