Option Investor
Update
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SPX is pushing above Monday's 864.31 high (printing 866 as I type). The bearish divergences continue but that doesn't mean we can't continue higher. It's just a warning to be careful if chasing it higher (trail your stop up behind it if long). The potential remains for a push up to the 880-885 area to finish a wave count possibility (pink on the 60-min chart). It's also possible the retest of Monday's high (slightly above) will be followed by a strong selloff (wave-c of an expanded flat correction from Monday's high). For now it's bullish until it's not.

SPX 60-min chart:
[Image 1]

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