The FOMC chairman's speech last week gave the markets a bounce which has carried to the end of the week.
This may be short lived as the EW structure looks very much like the bounce is wave C circle of a flat correction which when complete will lead to a much larger fall in minor wave 3.
The correction may finish at the now RED resistance trendline OR try to fill the open gap? Early next week should decide!
Chart pattern construction is exact, Well Done Interpretation, I think.
We may be at a point of STOP ..for the rally right now.
Next move down, when it comes should continue bearish rollover.
Geofftv1
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@The_Unwind, Thanks, if this is wrong we may be in for a Xmas rally?
We may be at a point of STOP ..for the rally right now.
Next move down, when it comes should continue bearish rollover.