not so turbulent thursday, page-29

If the SPI has completed 3 of 3 how far could it pull back and still be bullish for a move into new upside.

Well, here are a few calcs.

EWT says that 4th waves tend toward the 4th of one lower degree.

So, if you go by SYCOM then that is 4750.

On a daytime basis around 4760.

On a CMC basis and converting and I actually like the movements it gives, then 4743 on a 24 hr basis.

So if we take the most severe case, a pullback to SPI 4743ish is acceptable.

Lower and I will worry that this is not a 4th wave triangulation leading to a swift move higher.