S&P 500 Futures Bullish Invalidation
The S&P 500 index gapped open today and in the process invalidated a zigzag correction. Probability now greatly favors that the structure is the beginnings of an extended impulsive decline to fresh new lows for the cycle. Bear in mind, this is a futures chart. The purple line is a contract break, while it appears that wave 2 exceeded the start of wave 1 in the now invalid C wave, in actuality it did not. See the S&P 500 index chart for clarification.
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