The Vindicator Buy/Sell continues to oscillate, with the sell line crossing back above the buy line yet again today at the close. Really what this is saying IMHO is that neither the bears or the bulls are in control here, a fact that's obvious from the sideways price drift. Since we are once again officially back in sell mode I will wait for a V Stoch above 75 for a short trade. If we get a cross by the buy line above the sell before the V Stoch signal, that negates the short trade possibility.
Doing an Elliott Wave count continues to be problematical. On the SPX and ES (below) it looks very much like we're tracing out a 5 wave (a-b-c-d-e) triangle since last Thursday's highs, with the "c" leg complete at this morning's lows. If so we are in the "d" leg up with a final "e" wave stab down yet to go. Also, if that's the case it would dictate a 5th wave rally yet to come before a more serious correction.