SUMMARY
The S&P 500 (SPX) has decisively broken out of the symmetrical triangle which has been re-drawn to fill the full sequence of ABCDE waves. This thus negates the D wave breakout as discussed yesterday. The white wave 1 which was the breakout wave occurred in a five wave impulse. The remaining waves 3,4,5 are pointing to newer all time highs. IF white wave 2 is complete then purple subwaves of white 3 is likely in progress now. Purple 2 could decline towards 2,700 or so.
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