Intermediate Line In The Sand For A Larger Decline

FX:SPX500   S&P 500 Index
We've extended marginally above our ideal target zone for both time and price, but there is no reason to doubt that the current rally is nothing more than a corrective bounce at present. A break above the overhead resistance and a challenge of the 2130 level would cast some doubts on a more extended decline. Here is today's Market Structure Projections and commentary.

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