Update 3:30pm EST: The structure now better fits i-v down ('v' where the red 'iii' down shows currently) and then an a-b-(c) up with 'c' underway and a potential to hit the 3600 zone. We will post the updated chart after the close. Could be a nice set up for a down move to initiate beginning next week.
Update 1:30pm EST: Potential contracting triangle right shoulder (from 11/10) could break either way but there are vectors indicating a potential down move. (most likely not the end of the larger leg up)
Looking for a divergence to persist over a week or two for prices vs breadth while targets are in focus.
Medium Term: :
The controlling structure may be i-ii-iii-waves down on SVXY with wave iv/d up showing now- See related post
-(update note: SVXY has now entered wave iv/d upper price zone territory @40.25)
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