Elliott Wave Analysis of the S&P-500 by Sid from ElliottWavePredictions.com. Click on the chart twice to enlarge.

It is highly possible that wave 5 green ended in truncation today. Truncations are very bearish. Additionally, there was a traditional VIX sell signal at yesterday’s close. Throwing fuel on the fire, the WXY combination corrections in the Euro and British Pound count as potentially complete, so the most aggressive portion of the downward thrust out of their respective 3-year triangles may have commenced today.

Sid

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