S&P 500 is for now trapped in a sideways price action which can be black wave B or 2 and can alternately develop into a triangle or a complex pullback with bit more higher levels. In any case pressure stays on the downside but we need to wait on more data to determine which of this corrective patterns are developing. Clear five waves from recent highs indicates that we are going to see lower levels ahead, after this correction unfolds.
S&P 500, 1H
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