Stock Market Rally May be Complete

It has become obvious that the higher Cup with Handle formation was not triggering the sell-off that would be expected. Both the daily chart and the 2-hour chart actually show a better position for a clean Cup with Handle pattern with the Lip at 2322.25. The Broadening Wedge remains the same. SPX appears to have halted its rally at the 50% retracement level. It remains on a sell signal with additional confirmation beneath 2322.25.
The Market Oracle

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