[11:00AM] $SPX retraced .382 in a W4 on today’s gap up

2873 was the .382 retrace level for SPX and we hit 2875 intraday to get W4 formation in after a downward W3..so after the w4 there’s a potential W5 down which would retest the 10 day low but typically it’s the most mild wave and the reversal could be big at .618 retrace

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