So, let's recapitulate so far: We initially called for a lofty target to the four-digit uptown neighborhood with a cautionary word on a possible unwinding defined in the chart as the "Expected Reversal Zone". Price did just that, where market confined the bodies of the candles within the defined limits. Now what?
At this point, there is one particular area that we decided to define as a cautionary line (in red), valued at 895.32. If this line cedes to bear influx, beware. While the "Potential Conversion Line" remains in force, other discreet internal indicators we use will offer a better picture resolution of the situation. If and when we get there, we'll address at that point.
For the time being, our analysis posts a neutral-to-bullish outlook, given the parameters described above. We remains optimistically cautious, waiting for added reversal confirmation before calling it an outright chart.
David Alcindor | 4xQuad.com
Predictive Analysis & Forecasting
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