[7:50 AM PST Update]
Here's an update to the triangle. It's slowly progressing. I have also placed an alternate for (c) of the triangle if it turns out to be a complex subwave form as is typical in triangles. The placement of the (c) alternate is a rough estimate. As long as it does not breach (a) the count remains valid.
So far SPX mini still looks like it wants to complete subwave (d) of my proposed triangle. We'll see what type of sideways chop we have today.
The second chart is an alternate count I have had on my preferred chart for a while now. I put this chart together so it is a little easier to view since my main chart was getting a little clustered.
The blue Fib lines represent the length of intermediate (W). It should be noted the (Y) = (W). Projecting for (Z) there are two levels I'm watching, (Z)= .618 (W) and (Z)=(W). (Z)= .618 (W) at approximately 1220, that's the 61.8% retracement level of the 2008 crash.
My preferred is still the same but let's keep an eye on this count as well.
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