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N0tSwift

SPX500 Probable Glide Path - 10-28% Pullback starting

Short
S&P 500 Index (FX:SPX500)  
N0tSwift Updated   
FX:SPX500   S&P 500 Index
Trend Analysis Technical Indicators Wave Analysis S&P 500 (SPX500) pullback
5
2
trendanalysis indicator waveanalysis spx500 pullback
We've been in a nice upward channel since the US Elections, then yesterday hit.
Today we had a .786 FIB retrace up of yesterdays down run which puts us on an E Wave 3 Downward

10% would put us at the 50 Day MA
28% would put us at the 2008-2020 Up Trend Line

snapshot

Exiting remaining long positions, already added SQQQ at the turn.
QQQ following same glide path.

*NOT FINANCIAL ADVICE - NOT A FINANCIAL ADVISOR*
Comment:
Pattern Complete. Wave 3 didn't strictly follow length rules.
Everything points towards quite a bit further to go down, though Monday may be an initial BTD uptake before we start the next sequence.
A Up/B Down/C Up, then a decision on how far to drop or do we recover.
Comment:
Today was a skyrocket up putting us back high in previous channel. Unexpected.
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