JAN 20 SP 500 INTRADAY UPDATE

SP500 INTRADAY NOTE:

The S&P rallied as expected and hit a high of 2028.94, and then went south. This value is just below our shorting opportunity of 2031.00. The high at 2028.94 is within our 50 to 61.8{6662cb326f536db879050e93fbe8de36d93608a2a48b01f600643f4328fc39a1} retracement zone for our wave -iii- of (iii) rally. We also fell short of our .c. = 1.618.a. projection of around 2034.00.

At the moment we are not sure if all of wave -ii- is complete at the 2028.94 high or whether wave -ii- will become more complex than just a simple .a., triangle .b., .c. formation. We think that the wave -ii- correction will become more complex and we will look for another shorting opportunity and pass that along as this correction continues to develop.

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