$SPX Count Possibility

We remain at the various fib and trend line technical resistances that I discussed yesterday (here). We did not, unfortunately, get a big gap down that I was hoping for (here), a move which seemed suitable to me.

However, all is not lost. Twitter (at least) is exceptionally bullish here. Crypto looks just as bad now as did yesterday, and there is still a way to count the structure with excellent wave balance here. In order to do so, we must move the low of Orange “B” to a higher low (which is possible to do down there). You will see that modification with the green arrow.

I know its obnoxious to say this here, but this is a supremely excellent bull trap. I don’t trust this move with a single ounce of my being.


Leave a Reply

Your email address will not be published. Required fields are marked *