Sometimes I find it needed to remeasure fibs on SPX itself, rather than the ETF because SPY can sometimes be off by just enough to violate fibs beyond an acceptable amount.
So, I’ve remeasured the structure on SPX itself, and have found two things.
“Externally,” Green “C” has a fib relationship with Green “A” here, right where we’re at now:
And “Internally,” (internal to Green “C”), blue “c” has a fib relationship with blue “a”:
And so we’re back to where we were yesterday: this is a reasonable candidate for this sideways consolidation to complete after which I expect us to head lower.
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