We've been in a nice upward channel since the US Elections, then yesterday hit. Today we had a .618 FIB retrace up of yesterdays down run which puts us on an E Wave 3 Downward
4% puts us at the 50 Day MA 14% would put us at the 200 Day MA 28% would put us at the 2008-2020 Up Trend Line
Exiting remaining long positions, already added SQQQ at the turn. SPX500 following same glide path.
*NOT FINANCIAL ADVICE - NOT A FINANCIAL ADVISOR*
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Glidepath still tracking, on Leg 5 now, we saw a back test and rejection Friday.
BTD and an abrupted wave 5 into an A/B/C possible Monday The market hates to go one direction too far too fast.
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Monday - Wave 4 went to .786 FIB retrace almost perfectly Likely drop tomorrow
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Wave Pattern invalidated. Return to Channel if we don't get a drop soon.