$SPX Cash Fib Check

I apologize that I keep persisting in this. But, it’s important to be able to justify the wave balance here, if we’re bound to turn lower soon and I see too many things suggesting that we will for me to set this aside just yet.

Also, I’m using SPX itself again as I’ve discovered that there’s a somewhat significant deviation between SPY and SPX at the 6/28 high, which is why I was seeing different extensions only recently noticed (it’s rare for them to deviate enough for that to matter).

But, the golden wave balance is 1:1, and if I use an alternate low (green arrow) for the beginning of green “A,” we have such a balance at today’s high. And there’s some internal wave balance between this final leg, too. So, as before, this is a candidate for the top.

SPX

Again, sorry to keep doing this, but personally, I don’t think this is a good time to become bullish.


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