S&P is in a leading diagonal.

Leading diagonals are subdivided into 3-3-3-3-3. This is clearly a leading diagonal, setting up to be wave 1 of a strong impulse to the upside taking the S&P 500. I am neutral at the moment, looking to enter a long position in the leading diagonal's wave 2 correction. Always remember diagonals have an increased chance of a truncated 5th wave so wave 5 may not ever reach the top of the diagonal.