Today the S&P 500 (SPX) made a new post 07/27/23 decline low and invalidated the presumed Expanding Flat pattern illustrated in the 08/12/23 blog.
The 2 – hour SPX chart courtesy of Trading view illustrates the action.
The choppy decline from the 08/04/23 peak opens the possibility for several Elliott wave counts.
The so far wedging pattern hints that an Elliott wave – Ending Diagonal Triangle could be forming. If so a short – term bottom could form in the low 4,400 area.
Momentum indicators continue to suggest a multi-month decline could be developing.
Four Dimension Trading 