Market Analysis for May 3rd, 2016

May 3, 2016 - 3:46 PM EDT

I am sorry to provide this modification, but I decided to go into a 1 min chart - something I rarely do - and I can come up with the potential for a 5 wave move off the lows in SPX - even though it is clearly not perfect. But, it means I have to lower my break down level to 2055SPX. Meaning, we have to take out today's low to break the upside pattern and move into wave (2).

1minSPX

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