SPX 500 - 5 waves complete, likely bounce today

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Not sure if the bounce will be all day or half. Expecting a pullback at open and then rally to 3850, maybe even to 3880, then lower.

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ملاحظة

retracement may already be done, watch for break of low

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ملاحظة

OK the retracement looks done (right now at least). Targets for next move down is shown. I doubt they get there today, but you never know.

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ملاحظة

SPX cash may make another run at the pitchfork fib line, it doesn't have to, but it may.

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ملاحظة

got there, should reject in this area.

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ملاحظة

that pitchfork Fib has been very important, They can't get over it, so I'm still bearish for CPI tomorrow. It may be wrong, but I'm going to trust the analysis.