Increasing signs that December could weaken after a successful tag of SPX 4100

The last few days aren’t terribly encouraging given the degree of erosion in momentum and breadth in short order.  While SPX 3906 has not yet been broken, the structure of this week’s pullback has been clearly impulsive from an Elliott standpoint while short-term cycles look to be turning down which has resulted in a break of the uptrend from October lows.  Overall, a counter-trend snapback rally looks likely into early next week, which should...

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