$ES rally coming, but won't reach much higher than $3180
Everyone is calling for 320's relief rally, but what corrective structure fits such a case? This corrective structure is not simple zig-zag (wave b-down is retesting wave-a origination point), so the highest case up would be Expanded flat where we make a slightly lower low and a slightly higher high, but that would only reach ~ 318 on SPY. That expanded flat opens the door for a wild whip-saw zig-zag correction in B-up of C-leg-down (theory of alternation).
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