We've been in a nice upward channel since the US Elections, then yesterday hit. Today we had a .786 FIB retrace up of yesterdays down run which puts us on an E Wave 3 Downward
10% would put us at the 50 Day MA 28% would put us at the 2008-2020 Up Trend Line
Exiting remaining long positions, already added SQQQ at the turn. QQQ following same glide path.
*NOT FINANCIAL ADVICE - NOT A FINANCIAL ADVISOR*
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Pattern Complete. Wave 3 didn't strictly follow length rules. Everything points towards quite a bit further to go down, though Monday may be an initial BTD uptake before we start the next sequence. A Up/B Down/C Up, then a decision on how far to drop or do we recover.
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Today was a skyrocket up putting us back high in previous channel. Unexpected.