As expected, the SP500 is turning down for a deeper correction, as drop on all major indexes and some big cap names are pretty aggressive. We talked about that already back on July 18th. CLICK HERE
We see Sp500 coming even lower as anticipated within a projected higher degree A-B-C correction, where wave C can now extend a decline down to 5267 support area before bulls show up again.
According to secondary count, there's still a chance for a complex W-X-Y corrective decline in wave (4), but even this one indicates for more weakness down to 5334 support area before we will see a stabilization.
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