“The market gapped up at the open to SPX 2038, a point below yesterday’s 2039 uptrend high, then pulled back into the afternoon to 2017. We labeled the SPX 2039 as Minor wave 1 of Int. iii, and today’s pullback is Minor wave 2. Thus far, the market got sufficiently oversold at the SPX 2017 low where Minor 2 might have ended. If so, Minor 3 should soon be underway to new uptrend highs. Short term support is at the 2019 pivot and SPX 2000, with resistance at SPX 2040 and the 2070 pivot. Short term momentum declined to oversold after yesterday’s negative divergence. Best to your trading!”