Time may be more important than price today for the S&P 500

My Elliott Wave alternative hypothetical of a B wave up ~890 with a C wave down to 750 might (or not) be in play. I do see, looking back at the ChartsEdge weekly cycle map for the S&P 500 (you can locate via the "Chartsedge weekly" label in the list at right), that the timing for a high in the S&P 500 is shown for this morning. Given what the markets are looking like, I can accept the possibility that time rather than price can be more important for the SPX today.



I do notice that the ChartsEdge cycle for the Nasdaq shows more relative strength, and divergence does happen. I tend to play more in the S&P 500 arena so that will remain my primary focus (although I'll continue to post from time to time in the QQQQ's as I see things happen). Meaning I'm neutral on whether or not the Nasdaq and QQQQ's travel in lockstep with the SPX in the days ahead.