SPX Update: Hurricanes and the Market

As those of you with internet access no doubt already know, Hawaii was hit with a hurricane on Saturday... so to say I've had an eventful weekend would be something of an understatement.  Friday seems like a million years ago.  I'm currently without power and hard-line internet, and up until a few hours ago, my family and I had spent the weekend physically trapped on our property by a downed power line and a large tree... so the update will be on the short side.

Amusingly, not only was this Hurricane named "Lala," apparently after winning the NHC's competition for Dumbest Possible Hurricane Name (thereby forever dooming those of us who lived through it to have to say stupid things like, "Sure, this is bad -- but it's not as bad as Lala." And: "You think this is windy? You kids should have seen Lala!" Causing future generations to assume we've developed some sort of bizarre verbal tic.).

Right -- NOT ONLY that, but amusingly, this last thing I wrote on Friday proved to be a hit (pun intended):

I have a feeling this one might actually do some damage (unlike most of the storms that head our way)...

Anyway, enough about me and Lala-la-la-la.  Let's talk about something even more chaotic: SPX.

As we can see, SPX is keeping options open for a potential b-wave high, which (if it runs with that) would put us into another complex grind.  We should learn during the next session or two if it wants to take that route, or if it intends to proceed with the more straightforward bull option.  Trade safe.