The S&P is pulling back up, but I still consider it in a "B" wave and I still expect downside to be coming. They may break that top for one more, but they should run it back down. At that point it can make another move up, but I expect more downside before any upside.
Note
I forgot to update this. Didn't get much of a rejection of the trend line, just a small trade. I expect the Sand P to probably make a running flat pattern, meaning more upside. Doesn't mean we can't get some downside, but I consider it to be in an uptrend pattern. I will try to post a markup later.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.