Hi traders,
Overview: lets look at the update published on July 23rd: "I see wave X not completed yet. Looking at the hourly chart, I can see that waves a and b of 5 of c of (V) are completed, with wave c completing in the coming week (market topping for the last major bearish move). Potential targets for wave X top (~4050):"
Update: there is no change to my count. Waves 1 and 2 of c completed today, with wave 3 coming next.
Important Note: this week is going to be very volatile with all big tech ER and FOMC on Wednesday. If we break the lower black trendline, the count is invalidated and the market has already topped, going for new lows (leg Z). In that case, the best is to wait for the retest of the trendline to enter bearish. Until then, our count is the main plan.
Overview: lets look at the update published on July 23rd: "I see wave X not completed yet. Looking at the hourly chart, I can see that waves a and b of 5 of c of (V) are completed, with wave c completing in the coming week (market topping for the last major bearish move). Potential targets for wave X top (~4050):"
Update: there is no change to my count. Waves 1 and 2 of c completed today, with wave 3 coming next.
Important Note: this week is going to be very volatile with all big tech ER and FOMC on Wednesday. If we break the lower black trendline, the count is invalidated and the market has already topped, going for new lows (leg Z). In that case, the best is to wait for the retest of the trendline to enter bearish. Until then, our count is the main plan.
