SP500 Update

Yesterday I was banned by Tradingview from posting and messaging due to 'unsolicited advertising' and my updates were available through the website only. Yesterday, the market continued its rally and at this point, the previous count looks extremely stretched. By now the bears should have been stopped out.

Aanalyzing lower time frames in the rectangular area gives a ground for assuming that we are stil in the bear market and not a restart of the previous bull trend.

RSI quickly swung from oversold to overbought suggesting that the bounce can be near to exhaustion, but so far there is no divergence on the lower timeframes.

The look and feel of the bounce make me suggest that we have already completed wave w and now is in wave x which can take different shapes and be volatile. On the chart, I indicated one possible scenario with a triangle in blue which would fit the bigger picture as posted previously.