had a rough couple of days. The impulse down continued to subdivide and seems to be putting in an ending diagonal
. That would fit the alt scenario (labeled in red with the C of the current 4th wave taking us somewhere above the recent term high at 10500.. but it would also fit the blue count in which the 4th ended at 10500ish and this is wave 1 down of the 5.
In anycase if the ending diagonal
is playing out, we should see a decent bounce.
For those of you who missed my last post, don't forget to check out this article on mcm:
It shows the dax
tools in full action and the amazing signals which called the near 500 point drop from 2 days ago.
Good luck to your trades!