BUYING THE DIP after an almost 100 handle deep 5 wave down !! EW ma's 13 and 34 making a bull cross - might indicate a BTFD at red c. But also indicating that we might only see a corrective 3 wave move up.
If corrective 3 wave ABC up pans out it should be a 88.6 retrace. (Making the right shoulder of an IHS at orange B)
SP did make a 5 wave down so a corrective 3 waves up making a wave 2 - could def. pan out
RSI has broken out above resistance but still in overbought area on the 4h chart.... have to show strength after having made the red abc retrace... but might be coming short an start showing divergens...
1945 for the bullish move above neckline on ES making a 261.8 fib ext. Then a back test of broken neckline gyazo.com/5014ba5164bd416408b3c2417220e8c8.... but neckline has to break...of cause
CoinedByCrypto
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SPXU Step over the line a the neckline is broken in SPXU shs
KevinT
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Wow. SP500 Index closed the gap at 1962 and immediately went down. Dow ticked the low band of the gap and went down. 'Triggered' by Russian armed convoy news. What a coincidence. Hmmm.....
Do you think your initial AB=CD still play out next week? I really lost my direction o.O
CoinedByCrypto
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SPX (UPRO) forming an IHS... right at the open at neckline.
KevinT
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I just see it finished 5 of bullish wolf wave on 5 min
CoinedByCrypto
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But still have to fight the red channel... yes exciting...def.
CoinedByCrypto
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Held the 38.2 fib retrace area making a strong case for a bull flag and further up side