Hello Traders,
NIFTY50 tumbled down after hours, caused by the speech of Jerome Powell, the FED chairman.
His words have shown dramatic impacts to markets all over the globe.
In consequence, N50, DOW, NDX; FDAX and others extend their declines,
You, as my valued subscibers, have been prepared for this phase of the market!
The Future tumbled down to 17444 on a closing basis; while N50 closed the session @ 17582!
I expect a new low for N50 at the open. This low, if so to come, should be wave (3) of Submicro degree. N50 will replicate the future low.
After a short term up move, within a wave (4), should be seen, and after this, a new low, below wave (3) could be next and completes wave (5) of ((C))! A possible target zone ranges from 17269-17150 area! More bearish potential should exist!
I have visualized the potential target area with a rectangle at the future chart. The difference between future and cash must be something around of 18-20 points!? (would be pretty nice, when someone of my readers, can give me a short feedback of the difference)!
Another scenario is also thinkable!
While wave (C) has equaled wave (A), the chance is given, that the decline was done at Friday's after hours session, and N50 will start a new impulse to the upside! Keep that scenario in mind! I will be focused to N50 on Monday and update the count if something important will be underway!
In corrections during a bull market, the moves a really fast and hard. So don't be surprised of the extensions and the moves itself.
I recommend to step at sideline, and let the market calm down !
Don't get lopsided; that inevitably leads to bad decisions!
Have a great week.....
Ruebennase
Feel free to ask or comment!
Trading this analysis is at your own risk!
NIFTY50 tumbled down after hours, caused by the speech of Jerome Powell, the FED chairman.
His words have shown dramatic impacts to markets all over the globe.
In consequence, N50, DOW, NDX; FDAX and others extend their declines,
You, as my valued subscibers, have been prepared for this phase of the market!
The Future tumbled down to 17444 on a closing basis; while N50 closed the session @ 17582!
I expect a new low for N50 at the open. This low, if so to come, should be wave (3) of Submicro degree. N50 will replicate the future low.
After a short term up move, within a wave (4), should be seen, and after this, a new low, below wave (3) could be next and completes wave (5) of ((C))! A possible target zone ranges from 17269-17150 area! More bearish potential should exist!
I have visualized the potential target area with a rectangle at the future chart. The difference between future and cash must be something around of 18-20 points!? (would be pretty nice, when someone of my readers, can give me a short feedback of the difference)!
Another scenario is also thinkable!
While wave (C) has equaled wave (A), the chance is given, that the decline was done at Friday's after hours session, and N50 will start a new impulse to the upside! Keep that scenario in mind! I will be focused to N50 on Monday and update the count if something important will be underway!
In corrections during a bull market, the moves a really fast and hard. So don't be surprised of the extensions and the moves itself.
I recommend to step at sideline, and let the market calm down !
Don't get lopsided; that inevitably leads to bad decisions!
Have a great week.....
Ruebennase
Feel free to ask or comment!
Trading this analysis is at your own risk!