As previously warned, the bear is back! Wild swings have characterized the market yesterday and the ((3)) did indeed bottom at the lows from Monday. The following rally was vicious and almost tagged the 1st target at the 0.382 retrace (high was about 40 points shy of that). The ((4)) could be in, or it could develop into something more complex. No way to know really.
But the main direction is down.
Invalidation level sits very high at 11.028 (where the ((1)) low is) so the current 4th wave has some room to move.
I am neutral short term, but watching signs that the current 4th wave is finishing. After that the lows will be taken out.
But the main direction is down.
Invalidation level sits very high at 11.028 (where the ((1)) low is) so the current 4th wave has some room to move.
I am neutral short term, but watching signs that the current 4th wave is finishing. After that the lows will be taken out.
