I discuss how the additional wave up could have a larger implication on the entire outlook of S&P500 and could cause a re-labelling of the entire wave structure. What we want to see in order to keep our primary count, is a breakdown below the low of where I plotted wave 1 of C. That is, below 5119.8.
But no matter the primary count or the alternate count, it is still a short opportunity. But there is an implication on the Take Profit target.
But no matter the primary count or the alternate count, it is still a short opportunity. But there is an implication on the Take Profit target.
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