S&P 500 - Coincidence or not???

Interesting that those 3 trend lines intersect right at the peak created by the COVID vaccine news the other week. It also happens to perfectly hit the 1.236 fib extension off the March low. If you did not know, 1.236 is the highest amplitude a corrective wave can go. If it breaks higher than that, it is a motive wave and not corrective.

Close up

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If it is corrective, then this is my guess what a correction may look like.

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