Didn't get a chance to post a Fri update. As I posted recently, we had to keep in mind that wave (2) may have completed as a flat and so far the market is giving that option a pretty good probability of playing out.
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| SPX - 60 Min |
I apologize but my 60 min chart is getting pretty busy with the labels. To keep it simple, the daily chart has this breakout as wave 1 of (3) of (5) for the bullish count. If wave 1 is done or when it completes (maybe tags 3k first), wave 2 should properly retrace one in that 38-50% zone.
If the larger bear count is playing out this would represent wave 1 of c of (b) orange.
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| SPX - Daily |
