Elliott Wave Update ~ 31 July 2013, S&P 500 Analysis after closing bell, S&P 500 ~ Elliott Wave Count ~ 31 July 2013

 Elliott Wave Update ~ 31 July 2013

You could tell by the overlapping wave structure and the weak internals that the market was trading heavy and "tired".  Today may have been an ending diagonal triangle:

Larger picture:

 S&P 500 Analysis after closing bell

• Daily indicators are turning weak in S&P 500 chart. Stochastic has given a sell signal. Bears need price to close below 20 Day SMA for a bigger fall to happen.
• Weakness on price trading below 1676 and 1669 levels.

S&P 500 ~ Elliott Wave Count ~ 31 July 2013

I'm still looking for one more rally above 1700 in August:

(link to previous count)