Hello traders!
We are still tracking a double three structure for a primary wave B to the upside on the Us indexes. In NDX the structure appears clearer in his last zigzag, and as we argued before a descending broadening wedge and a W pattern have targets above 13600.
Even if the wave structure on SPX is less clear, bounce from the bottom show corrective character but bullish pattern are present with higher targets. Below the Inverse Head and Shoulder highlighted:
The confluence zone that comprehends the Patterns targets, the fibo EW targets, and the volume cluster resistance is 4235-4326 for SPX and 13615-13900 for NDX.
We will hold our long from 12909.1 on NDX up to the confluence zone, where we will reevaluate the price action looking for possible short setups. At the same time we will look for a macro wedge retest on VVIX:
Bests
GMR
We are still tracking a double three structure for a primary wave B to the upside on the Us indexes. In NDX the structure appears clearer in his last zigzag, and as we argued before a descending broadening wedge and a W pattern have targets above 13600.
We will hold our long from 12909.1 on NDX up to the confluence zone, where we will reevaluate the price action looking for possible short setups. At the same time we will look for a macro wedge retest on VVIX:
Bests
GMR
Trade active:
NDX can start new 5 leg
Trade active:
