One $SPX Note

I can’t guarantee that we’ll fall quickly, and I also cannot guarantee that we won’t. I will note this: I cannot immediately count this as an impulse (down), and so the choppiness in the near-term may persist. If we get an afternoon drop but only enter the orange box fibs (or higher) and don’t take out prior lows (green arrows), we may be crafting a head and shoulders pattern (red arches).

This is entirely speculative for the time being. But it looks like they may be content to distribute for a bit more.

SPX


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