Looks Good

If we finally have a top in, I have already discussed the good fibs (here and here) and so let’s zoom in.

From the high of day, we do have a very nice impulse wave down, and we can count the bounce as a corrective 3-wave move (the red a-b-c) which came to the 61.8% retracement of the liquidation break decline.

So, it is a good setup for a 1-2 here of an initial degree. Confirmation will come if we get a third wave decline from here that should ideally take us to 4255 or lower from here.

SPX


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