The cash S&P500 continues to be involved in a fourth wave pullback. I still think we will get a rally to a new high (wave 5) that is accompanied by another bearish divergence with the RSI/Composite and a DeMark exhaustion signal. Right now the TD Combo is on countdown bar 11 (shown in the chart) and the Sequential is on bar 9. Such a high would then have to be placed within the larger price structure. At the close of trading today we will have a new monthly chart to look at!
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