Up until the overnight move lower in the equity futures, it was still plausible that there would be a push over the May 14th high and beyond before much more pullback. I actually welcome this drop as I think the pattern looks better this way but didn't want to fight a rise if they insisted on it. Would think that the S&P 500 at least pushes down to 2702 or the gap fill at 2697 at a minimum, and distinctly possible to stretch a bit for the .382 retrace at 2686 SPX but not strictly required.

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