$SPX is fighting for its life, but the 3rd wave decline is inevitable
$.SPX(.SPX)$ is fighting for its life, but the 3rd wave decline is inevitable.
Despite the rally, the price action resembles a bearish WXY model for the 2nd wave. Due to the complexity, it is possible the 2nd is already complete or will do so at 5980.
The loss of 5920 would boost confidence - that should lead to targeting 5800-5700-5630.
Overall, looking lower against 6017, but above 5980 would reduce confidence - barring a sharp reversal following.
$SPDR S&P 500 ETF Trust(SPY)$ $E-mini S&P 500 - main 2412(ESmain)$ $Invesco QQQ(QQQ)$ $NASDAQ 100(NDX)$ $E-mini Nasdaq 100 - main 2412(NQmain)$
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We were expecting a sharp decline today targeting midnight open and the London low 🎯
$E-mini S&P 500 - main 2412(ESmain)$ wasted no time and dropped 60 points to those targets in minutes 🤯
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