S&P500 Elliot Wave- Sell the 1940-80 area

FX:SPX500   S&P 500 index of US listed shares
252 0 3

Current Labeling: corrective wave 4 up. I have two scenarios for wave 4, orange and white.

ORANGE SCENARIO - This scenario assumes wave 4a and 4b are finished, and 4c is close to finishing.

WHITE SCENARIO - This scenario assumes that the move from 1810-1940 is wave 4a up and close to finishing. Next, wave 4b should set a Higher Low, so > 1810, possibly at support 1830. Once 4b is finished, wave 4c will target the 1980 area to finish wave 4 up. After that, wave 5 down will take the S&P500             to Lower Lows.

Both scenarios agree on overweighting shorts for a retest of the JAN 20 Low.

There’s resistance @ 1940, 1955 and 1980 so that could be the area where wave 4 will top and wave 5 down will start.

My scenario of wave 4 up becomes invalid if 1993, the low of wave 1, breaks to the upside as wave 4 can not overlap wave 1.
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