$SPX - Market Analysis for Nov 20th, 2018

With this break of last week's low, the immediate setup for upside has invalidated. Therefore, odds have now flipped in favor of at least a retest of the October low as a deeper wave b of B shown in blue, if not a straight breakdown with the B-wave already complete at the Nov. high shown in red.

$SPX - Micro - Nov-20 0647 AM (1 hour)
$SPX - Micro - Nov-20 0647 AM (1 hour)
Garrett Patten is a senior analyst at ElliottWaveTrader covering both U.S. and international equity indices as well as stocks.