S&P 500 is still trading bullish, now in final stages of a bigger blue wave five. We can see former sub-wave 4) of five completed at the 2555 level, which means current intra-day structure can be part of sub-wave 5 of five and can extend its recovery towards the 2620 region and there reverse lower. A minor drop in five-waves would confirm a top in place and a three-wave reversal to follow.
S&P 500, 4H
(Click on image to enlarge)
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