The equity futures had a decent initial bounce overnight though short of what I’m looking for as a potential wave iv and have been drifting lower throughout the morning and early afternoon. Thus, I have to assume that wave iii is extending and attempting to test 3818 or 3806 SPX. Not shown, but it is worth noting that the Dow futures are holding up better and have yest to retest the low from last week so I’m reluctant to be very bearish and instead think it wise to be alert for a better bounce which I will pencil in as wave iv.
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