Given all the events we have going on around the world, its hard to see indexes and sentiment to continue to be bullish, now the catalyst that will trigger this next sell off is up in the air as to what it can be. Markets go through cycles, we have been in a bull uptrend since the Covid lows of march of 2020 and in my eyes and with wave counts this is just not sustainable and we have reached a critical level where fib levels extend as a possible reaction point. So far it has reacted nicely but time remains to see if this is the entry point to correct this entire 16 month cycle. Downside targets will be below 10,000 being the counts we have, this is going to be a sharp correction that will scare many. Safe trading everyone.
Trade active:
Currently risk free entry point at 15,690ish