an alternate idea in case the impulse down is not really an impulse and today's ending was yet another bull trap. We have economic numbers again at 8:30 am which will certainly affect the market so I'm personally flat overnight. A C down from here is probably not on most people's minds which is why I like it. However, this could be completely wrong so please take it with a grain of salt.
Comment:
futures are at the pitchfork fib no decision made - probably after 830 there will be
Comment:
possible move on futures is an abc, stopped at .618 fib for now. Open will tell more....
Comment:
they stopped the pump on futures at the pitchfork fib. Needs to get over that to rally, otherwise more downside likely.
Comment:
leading diagonal finished for wave 1. If correct the next wave should break yesterday's lows and traders will recognize this is not the bounce they expected.
