Mini SP500 Intraday Progress Review

The Mini SP500 decline seems to be in the shape of a zigzag. One zigzag at this small scale does not make a complete sequence just yet.

Even though the markets have plunged a bit more as I post, we can still take a bit of downside if a diagonal 4th wave is still in progress.  Just in case this is a diagonal 4th wave, then the SP500 October low must not be breached by any amount. Being part of a bigger ending diagonal, is not ruled out, but it may take the rest of the week to remove the smoke inside the crystal ball.

At the October base, we would also be in a H&S position,  so that can give stock bears a rude wake up call.

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