Either in a Parallel

Either count in a parallel might result in five-waves-down on the SPY 15-min chart. It is often typical for the fourth wave to be longer in time than the second wave.

Readers of this blog know we were well-prepared for the downturn at the end of the day, even calling for a potential b wave downward if there was downward overlap, which there was. There could be more downward. Nothing in the downward direction will surprise us.

Have an excellent start to the evening,

TraderJoe