One More $SPX Variation

Since we broke below the 8/24 low, we must rule out the first count in the last post. There is a variation that can rescue that, and I will point it out. We may also simply have seen (finally), the long-anticipated and not quite easily seen Green 5, giving us a much clearer 5-wave decline off the 8/16 high (instead of a truncation):

SPX

I won’t rule this out just yet, though, admittedly, it might be sketch. What I do know is this: if this is a trap, they often do it with a brief H&S neckline break, so we will have to see.


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