A Couple of Notes on $SPX

I still cannot rule out slightly higher prices to reach more ideal fibs.

That said, we struck the upper rail of what I think might be an ending diagonal and that coincided with the 250-day EMA (green arrow). It might be enough to stop us.

However, if we are going to “overthrow” the ending diagonal (which can be a common thing to do), this morning’s pullback might be a 4th purple wave of 5 purple waves leading to red c (as depicted below).

SPX


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