Update to the last video. We are at strong technical support with the weekly BB being hit today and the daily BB being hit 5 days in a row. A small bounce is expected at these levels. However, because a number of traders are trapped I don't expect a large rally at this time. A run up to and slightly above 4300 may be about it before more selling. Target is still 4050 area.
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Q's getting some action, close will be important
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good morning, the breakout held overnight and we are just consolidating as of now. Important numbers at 830. If we breakup, 4315-20 should be the target. If they breakdown, I don't think it would last after open.
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mistake - target would be 4340
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on NQ - we may have 5 waves down in which case, a spike up at 830 would complete a C wave and we could have further selling today for at least some of the day to complete the last wave. Tricks towards the bottom/tops are common. Be careful of a false breakup after 830.
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This is what the count looks like if we have one more wave down from here (likely right now).
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one more down today would probably bring some sort of capitulation move, but I think one down and then a mild bounce back to 4330 (gap area) is likely for a week or more.
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any rally at open should get sold into. should be a bad day for bulls if i'm correct. one more down would get through the 18ma weekly, but i don't think it would last long. a wick through those important ma's are very common.
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open possibility, may not happen
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looks right as of now
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one more push up is possible - complex correction to confuse the players
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that should be it, if wrong I will update.
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no they are going to try and break the line - a stab above the last high may be worth watching for a short entry.
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complex correction but 5 minute rsi needs to be reset. higher still likely before a down move.
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I expect a move down from here, but I don'ts think it will last. 4th waves (if this is what it is) are very confusing. I'm out for the day - see you later.
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taking a quick break and checking the markets. OK, so the move up was more than I expected (and I should have expected that). Now we're getting the selling i thought would come, however, we could find support at the breakout of 4280 and continue up. Underneath that level and we're going for one more low tomorrow. I can't really tell it could go either way.
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another way to look at it
