Tradingview cannot seem to publish a . So refer to this picture: for the ACTUAL slope I am looking at
I've been really on FB-1.20% for a while but it looks like it's tired out of the last few weeks. It's probably just building structure. The recent reaction (Reaction 1) coincided perfectly with the extension of the Action 1 line from the Center Line.
If we maintain this slope and projection on the reaction from Action 2 then Reaction 2 should end right at the lower median parallel of the larger trend.
I see two options:
1) A strong move up immediately using .5 RT-0.26% and middle as support
2) Larger reaction to the low of the fork which would build a strong base and really catapult the market to new highs. Probably the at least
If the market enters a bear market we'll see this in the structure in the next week or so.