We had an impulsive move down today but we have not completed a 5 wave pattern to keep this bullish. We also have a fast declining 60min SPX stochastics. This is not what we want to see if we want a bearish outlook since we would want prices to outperform stochastics on the downside. For now we are bearish but look for cover of the shorts once your 60min crosses up on the indexes.
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