5th Option, Good Lord

Adding to the thoughts from earlier (here, and then here), I have one more.

We may count the structure as below, with a confluence of fibs all at the same spot where we’ve initially found support a few minutes ago. This count involves us counting down from the August high in a double-three corrective decline, instead of an impulse wave down.

I still don’t have any reason to expect this is anything but what it looks and feels like: a waterfall capitulation event into a major low.

SPX


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