One more flush to complete C is needed to lower low for a short term bounce. Sentiment is still bullish after Fed started shrinking the balance sheet. SPX is standing tall just 2% off the high after enjoying rally of 58% from 1810 for last two years.
I think it's distribution in stocks and move down at each discount level till bond market digest and learn to live with this reverse QE. Bounces will be shorted ....JMHO
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