Just updating this - from here the X-A and C-D are ideal for the PINK BUTTERFLY
. Why would the market turn like this? No idea. Will it happen? No idea. What is a puzzle for me is the BLUE BAT. It seems to want a CRAB
now, and if a 5w is in progress the 3rd wave should conclude soon - a .386 retrace for wave 4 and ext to .618 from there would get price to the neighborhood of the CRAB
(not seen here, but posted on SPY
chart a few minutes ago). What is a puzzle, though, is the starting point for the BAT/CRAB - it just doesn't strike me as an important area. Anyways...continue to follow price and play shorter term patterns.