SPY has completed its Wave B bounce and in the coming days we should expect a Wave C to lead us down to the 1.618 fib retracement which aligns perfectly with the support created from late June. With big earnings this week and GDP coming out on Thursday, there are many catalysts to bring us back down to touch the 1.618 before a possible bounce again.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.