Looking like a possible expanding flat (3-3-5). We've completed a wave down (Wave A) and should be wrapping up Wave B on Friday. Though Friday doesn't have to be an up day. Technically we crossed the ATH and have satisfied the three waves up. Next week, we should see Wave C start with the expectation that it will end just past Wave A.
There are several things to take into consideration:
1. The market is showing signs of being overbought. RSI is 65+.
2. Evergrande's 30 day grace period is about to expire.
3. There are four gaps to be filled.
There are several things to take into consideration:
1. The market is showing signs of being overbought. RSI is 65+.
2. Evergrande's 30 day grace period is about to expire.
3. There are four gaps to be filled.
Check out sami's post