With the slight break of 5262, the higher degree correction is likely delayed, but is still expected to occur within weeks.
It is now favored that $S&P 500(.SPX)$ $SPDR S&P 500 ETF Trust(SPY)$ rallies to the 5335-5400 range to terminate [W3] before the sharp, multi-month decline to 4800 for [W4].
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It remains strongly favored that SPX has begun the higher degree correction.
As long as SPX continues to remain below 5261, it should start to escalate the decline.
It is most likely we continue to stay under 5261 until roughly 4915-4820 is reached.
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https://twitter.com/TriggerTrades/status/1773500321202938262
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