Bigger picture, the SPX looks like a flat off the lows, because the move to new lows (from red A to red B on the chart) looks to be only 3 waves because of the overlap. Therefore this huge rally off the lows is destined to be FULLY retraced, since it is likely a C wave, part of a correction.
The big question is when will that correction start, of course and for that I will zoom in to the hourly chart and post a new idea.
The big question is when will that correction start, of course and for that I will zoom in to the hourly chart and post a new idea.
