The cash S&P500 formed an inside day on Monday. On the “intermediate” time frame I am still waiting for the Y-pulse high to come in before the retest of the January 23 lows occurs with the subsequent Z-pulse.Notice on this chart that I watch Fibonacci price ratios between the price pulses (like you would do with Elliott Waves). If Friday’s high were the end of the Y-pulse it would be a Fibonacci ratio of the previous X-pulse.
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