(1) the market is still in the same primary degree advance, AND
(2) today's sharp decline is to be taken at face value (i.e. accept the print of a low of 1065.79 in SPX)?
The following bullish count may be a stretch from a number of angels, but it does not violate EWP rules and guide lines even on a squiggle level. And it is well defined in the sense that it will be rejected if SPX drops below today's low AND we can expect a number 7-wave sequence to new highs to conclude the bear market rally if this count is correct.
We'll know soon enough.
Chart 1 shows a complex three structure for the primary degree advance since last March.
Chart 2 shows a detailed count since the Feb low.
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