After making an x-pulse low at a TD Buy Setup, the cash SP500 bounced in a y-pulse. The low was then successfully retested on August 19/22 when the z-pulse did not make a new low. A price pulse "buy" signal then confirmed the previous buy setup when we had a confirmed break of the supply line (delta - y trendline) on August 29. Yesterday the rate of advance was much slower but the market traced out an uptrending bar.
The price targets to watch are: The medium (blue) moving average, 1245-1247 fibonacci and Trend Factor targets, the long (green) moving average and TDST resistance at 1332.
Bottom Line: I believe a counter-trend rally is underway. My mechanical allocation mix meter has risen to +50% - the bullish potential over the near term should be respected.
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