Today was a complete massacre
Only two things can be seen from a movement that didn't stop in any barrier:
-12400 proved the final resistance of this movement up. Whenever it continues, it will be an important level to consider.
-11600 proves (up until now) to be the only support for the Nasdaq, exactly what can be considered the previous level fourth degree...
What we saw today is an expansion of what we saw on previous days:
-Strong up movement corrects fast when meets an important resistance, and then retakes to completely recover the correction.
From an Elliott perspective, today's movement is similar but from a higher degree than what we saw previously
Therefore I would consider this a wave 4 of something one...
Today's movement is similar to yesterday's:
->Force up at the beginning
->Finds important resistance and retreats heavily (yesterday it was relatively slow, today relatively fast)
->It then retested and defeated the previous resistance (both time with speed)
->It ends market hours moving up again
Therefore the analysis is not very different from yesterday's:
->We...
General:
movement is back, compare to 26-27 night and all 28
after failing to test a resistance, strong corrections happen but find near support
up movement seems to be accelerating
both 2 and 3 suggest nesting that could move to the upside tomorrow very fast.
As you can see, from the lows of March the impulsive movement has been on the up side except for the two down moves of end of April beginnings of May.
The most important point is, after those two corrections, we now see a tremendous impulsive movement up, very strangely a B movement (correction inside a correction) can be so impulsive.
Therefore I think we are...
