Correction/Consolidation underway in SPX. The way i see it, there are two possibilities here.
1) We hold above SPX 2535 and start a new leg-up
or
2) We break 2535 and retrace the entire rally back to SPX 2500 area and then start a new leg-up.
Regardless, i am looking to buy the dip after the correction is over and i get a buy setup. It does not change the the trading dynamics whether i buy from 2535 or 2500. I still need to find a entry point and figure out a safe stop and trail the move. Waiting patiently for the buy setup.
