1. All time high bubble has popped with a fastest one month drop of 36% in history,exceeding the pace of declines even during the Great Depression. 2. Megaphone pattern is playing out from 2018-2020 high and lows 3. Elliott Wave corrective ABC with leg B looks to be completed with 2800 level rejection, leg C is about to start which will take SPX a lot lower towards retesting resent lows around 2180 4. Leg B created a bearish bounce of approx. 25% with a rising wedge clearly defined. Every bear market has these wild bounces and this one is no different. 5. Current price rejection is sitting at .50 Fibonacci level. 6. There is a Death Cross on a daily with 50dma crossing 200 6. Drop to 2200 for leg C is a start to retest the resent lows with 1800 in the picture.
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