As suspected that wedgie look resulted in some bullish behavior out of the gate yesterday. So wave b of Y retraced much higher for the primary count.
On the 1 min below, I have introduced two other potential options.
Alt1: Wave X has not completed and may be forming some type of triangle before wave Y pulls further back. This is the red count on the 1min below.
Alt2: This favors the bulls. Wave Y takes on a triangle of it's own projected with the orange dotted lines.
We will see
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| SPX - 1Min |
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| SPX - 60 Min |
