S&P 500 is turning down from 2788 swing high, which suggests a possibly completed complex correction within blue wave B. Another sign for a completed correction and more weakness is a breach below the lower channel line, which usually signals a change in trend, in minimum three waves. That said, we now think blue wave C can take price lower in upcoming sessions.
S&P 500, 4H
Travis Esquivel is an engineer, passionate soccer player and full-time dad. He enjoys writing about innovation and technology from time to time.
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