$SPX Power Hour Update

At the end of last week, I was looking at the possibility of a triangle forming here as we had been developing some contraction in price.

We have lost that contraction in price today but we remain within parallel rails, and so this may be a simpler 3-wave structure (instead of a triangle), i.e., a bear flag. If these parallel rails hold, we may count it as below, and I have produced a target:



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