OK, this is a possibility to be aware of. We still could come down to 3700 or lower tomorrow, but if they rally from anywhere around here (or there), there is a chance we get a sudden C wave up for a few weeks. Sentiment surveys on CNBC have never been more bearish, so there's that - but regardless, the pattern looks correct as of now.
So there it is - it may not work out, but I'm putting it up as a distinct possibility. I'm not long, but did hedge this morning. I'll shed shorts if we start getting over 3800 again.
If true, C should get to around 4100 resistance area.
So there it is - it may not work out, but I'm putting it up as a distinct possibility. I'm not long, but did hedge this morning. I'll shed shorts if we start getting over 3800 again.
If true, C should get to around 4100 resistance area.
Comment:
.382 fib of recent downmove reached. Could be a turn to more downside, I'm not sure. Be careful.
Comment:
qqq rejection from important fib zone (so far) again, be careful
Comment:
they are struggling with this trendline, above is bullish but rejection is bearish. 830 more economic data
Comment:
so far so good, we're at the median line for the daily Bollinger band, which is a resistance area. watching the open.
