The drop has now become deep enough that I need to give up on seeing a new swing high for wave 'b of (iv)' at least as a primary hypothesis. Support should be found against today against 2651.00 or 2641.50 in the S&P 500 E-mini this morning and in fact may already be in as I type. First positive sign would be recovery of 2658.75. Once that is done, it should be easy to bounce to 2669.25 and if that is in turn pushed over, it opens the door to at least 2679.50.

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