A Slight Variation of the Last Thought

This is a slight variation of the thought just discussed. We’ve gone a bit too deep to make this a credible purple 4, but we may also count it like below, interpreting us as having just completed the red a-b, needing the red c still just ahead of us.

I am just as eager to sell the market as anyone else, but just worry that they’re going to make this turn very difficult and so remain open to the more ideal fib strikes above us. If we lose this structure altogether before we get up there, that will be a very good sign for the bears though.

SPX


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