LOL, by popular demand, here I go
Let's stick with the shorter term 2 hour chart. Obviously there was another advance in SP yesterday, which then was asking for a correction - possibly another bullish flag. My feeling it that some time needs to get wasted, while waiting for some news or a technical move to take place.
In between times it is like bouncing off trend lines, possibly forming some chart pattern like a possible triangle (blue lines), which consumes time to form with ups and downs within. Triangle are quite common to form for wave 4s, winding up for wave 5 up.
New TA/Charting, page-5312
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