I'm talking about a pullback just under 2000. Then a decisive break above the old trendline. I think it can work. The alternative, i.e deep correction just doesn't make any sense to me, when you consider the fundamentals.
Well In this game U can never rule anything out. It's a possibility yes but the neckline is very sloped and I'd say that lowers the possibility in my view. It could happen yes. If the retrace is about the 38,2 of last swing high and low... it could be setting up a wave 3 up. But it's all in the future and for me to far away to really have any chance right now to say something meaningful about it. It's an option to have in mind. when or if 2000 shows up.
For the time being bulls (FED) are trying to kill the bear by buying futures in premarket....(yes the game is rigged) and hope it will cause a short squeeze when market opens. If it succeed the 78,6 retrace will be the test Above - and I'm much more likely to agree with your forecast. The futures has now retrace a 61,8 percent in premarket and it's much more likely to fall back to the 50 percent mark before a decision can be made on direction and possible of further upside. Thanks for your feedback!