The Market dropped a day longer than I thought it would, but this January Effect Minor upwardly corrective Wave is likely to continue on into the early part of January before the Bear Market resumes. I’m expecting some kind of price action against various resistance levels which are the dashed lines, and the 200 day moving average in red.
The wave count is invalidated if we make new lows, with the downtrend resuming.
Trade closed: target reached
⋅
The wave pattern for this [x] - wave has completed.