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8:24, It is now LAST chance for this count, wave 2 up(red ii), I removed the bullish count to clarify this bearish option although at this point the odds are not in favor of this count. The most important part of this chart is the readings on the RSI, which broke-out and made a new high, normally that happens on 3rd waves, and sometimes on "C" waves, but the SPX needs to immediately break-down and bust that channel to keep this count alive, other-wise the high of the day should be labeled as a 3rd wave. The SPX also made another minor higher high and a challenge of that major high at 1131 is now on the table if the SPX does not reverse direction ASAP. One other negative aspect to the above count is the SPX has retraced further then 62% now, and that lowers the odds that this would be a 2nd wave retrace.