Well, today's very unimpressive show by the bulls let us know that the path of least resistance is still down. While we could begin w4 at any time, volume (see daily chart) is still showing us that we are more likely to drop then bounce. We're sitting below the middle trendline (see hourly chart), so maybe that is enough to get the selling moving tomorrow. Wednesdays tend to be trend continuation days. We'll see. My best guess on wave counts is shown on the 15 min chart.
Posts
enjoy the posts. i got us in the 4th wave now and target of 770-780ish are you in agreement?
ReplyDeletejoshingu,
ReplyDeleteI'm glad you're enjoying my work. See today's post for two different counts. In either case though, I don't think we get above 760 area.