Hikkake
Short

SPY SHORT CONTINUES

SP:SPX   The S&P 500 Index
269 0 0
The 1709-1712-1739 was perfect range entering short whereby the first pivot was reached. The intermediate outlook remains bearish with a minimum retrace of 23.6% towards 1605. The more logical area is 1540 +/- as it matches size of previous pullback within the bull cycle.

Intermediate 4 should be of similar size as Intermediate 2 ( see June 2012 low )
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