S&P - in the target Red Box for wave ( iii ) up

The big picture remains the same. We keep dealing with the very same wave ( iii ) up. It has entered the Red Target box. At this point I consider risks of being long elevated because I expect wave ( iv ) down to push S&P back down to 3,160 – 3,100 area.

S&P - Daily chart updated on 1-10-2020

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