S&P 500 INDEX

Just an update—we still expect this confirmed “blowoff” trend will capitulate into a top between Feb 27 and March 6.  That will end this leg and be followed by a sharp correction that will likely not exceed 13 trading days.  But there will still need to be a distribution pattern before changing the trend and will either be a test of the high, a three thrust pattern or a broadening pattern.

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