The S&P500 (now at 1697) might be staging a Major Reversal on S&P500 as the display an end-of-the-line pattern.
If this analysis is correct, we completed a typical pattern known as "the 5th-of-the-5th-of-the-5th-of-the-5th wave" which is, by definition, the best spot to start a major short.
The Wave Oscillator in the 4-hour chart shows a entry already (short). Not so from the the Wave Oscillator built upon a .
There could be a minor rally to 1700-04 or so (1-hour chart): wait for this minor pullback before getting in.
Note the Timing on the . This reversal was supposed to be on Aug 3rd (36 days) which, unfortunately fell on a Saturday. Hence it was shifted to August 5th (38 days)
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