Situation seemed to be deactivated for both Indices. Most probably an extend of the correction has to be expected by devolping b or x waves followed by a second down move later.
SPX SPX as well as NDX is running in a correction move. As mentioned above I expect a prolongation of the corrective move. The first pattern have been completed within the correction has been a flat. Now the Index is running in a b or X wave. For both waves the next target is min. 1999-2002. In case that the SPX is reaching an in-time up of the last down leg an ending of the correction become possible (not favored). After finishing the b/x wave a further down leg has to be expected. The target for the anticipated down move will be min the 61,8 RT of the b/x wave.
posting #9 NDX has broken the black trend line and reached a 61.8 RT of the last down move already. A possible further course is shown in the chart according to what has been explained for the SPX.
posting #12 As prognosed before (posting #12) SPX reached the target area 1999-2002 followed by a further down move which has reached the 61,8 RT of the b/x wave already. Because of the rapid down leg it is possible that the b/x wave is still on the way forming an abc standard pattern or a more complex combination (shown in the chart). On the other hand a x wave could have been completed so that we could see a further down move now (a ZZ under 1999) as the start of a next standard pattern as y wave. That is not predictable.
to posting #13 Also NDX reached the prognosed target area followed by the decline as shown in posting #13. More or less the same story as for SPX. But NDX has broken the blue trend line now. That means that the main wave (3) has been terminated definetely. This gives us the confirmation that the correction wave (iv) is running and that the target area (4034-4006) for a correction at that degree is activated.
Let´s have a look on the multi indicator chart of SPX on different time frame: Hourly: BB Bands are restricted more and more. VLX resist at 2003. MACD (green yellow) with bullish crossing. Short Bressert ready for upmove also the Bressert with long adjustment. Test of resist expected. 2hourly: VLX support at 1992. BB Bands are restricted more and more. Break out ante portas! Short Bressert will start declining probably. Daily: BB Bands face upwards. Support at 1964 Mid BB and VLX. Short Bressert in down move but shortly before tuning up again. Bullish, but how long to go 2020/30? And MACD with signs of future weakness?
Daily: NDX with negative divergence NYSE Bullish percent: Nowhere land SPX:VIX, TRIN, CPC CPC with upspike, Trin low,
TD Sequential for S&P500 on daily. The actual running Sell Countdown is indicating new Highs. From EW perspective the wave 5 did not show any weakness so far. Maybe it is not an impulse but rahther a ZZ or DZZ which indicates that a special impulse form is on the way.