I think we have seen only 3 waves down for now. A C wave should have 5. Therefore I believe we will se one more low.
Some people are counting this as a wxy instead which I assume is a possible count. But it's rare and should not be prioritized.
Tomorrow we will have a new CPI data. I think that the smallest bearish news could make the market to crash quite fast.
The target is the box. The subwaves down should be 5 waves also that can either be a normal impulse or an ending diagonal.
After hitting a new low, if we see a bullish divergence, then we have a large chance of hitting a new ATH in the future.
Some people are counting this as a wxy instead which I assume is a possible count. But it's rare and should not be prioritized.
Tomorrow we will have a new CPI data. I think that the smallest bearish news could make the market to crash quite fast.
The target is the box. The subwaves down should be 5 waves also that can either be a normal impulse or an ending diagonal.
After hitting a new low, if we see a bullish divergence, then we have a large chance of hitting a new ATH in the future.
Trade closed: target reached
zone is hit, this is a good buy area for the short term.Note
Update of the count: LD so it seems the downtrend is far from over on the longer term.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.