$SPX Cash Update

Alright, looking at possible fibs in the cash session, here’s what I see:


I see a relationship between Green A and Green C here, and between Blue c and Blue a here as well, and, since this required me to move Green B to the low on the 3rd, there is also a relationship within blue a (of Green C).

And zooming in a bit more to today, we can see a little triangle here:


This could be a “B-Wave,” in which case we can go up yet again, but, a lot of people assume that’s always the case, and don’t realize that triangles can also be ending diagonal triangles, and this might be that, too. So, if it breaks down, it’s a great sign for the bears.

If it’s become a foregone conclusion to most that we’re going to tag the 200-day, then maybe they knock us down before we actually get to it (it’s still about 50 points above us).

I can’t rule out that we still need to go up, but if they’re distributing up here, maybe we don’t.

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