It's my belief that NQ has only a little more down to go before a larger rally to take out shorts once again. RSI on most mid time frames 1-4 hr) are showing strong bull divergences and a gap is near 15800 on futures. It's rare that a futures gap would stay open for long.
I think we get to about 15800 this week, and maybe by Wednesday.
After the rally I expect more downside.
Good luck!
I think we get to about 15800 this week, and maybe by Wednesday.
After the rally I expect more downside.
Good luck!
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Good morning, first 3 wave structure has already started. Any selling today likely gets bought and we go up. It will be choppy for a few days it looks like, not a straight up move. Good luck!
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Looks like this now, like I said a sell off will probably attract buyers and stop out bears which would fuel the C wave up.
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still making the B wave in my opinion. A C down for the afternoon session is what I think comes. Gap on futures may be the target....
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A bear trap and then gap up tomorrow would be the most interesting scenario. This B wave looks ready to turn down, we'll see how they close it.
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IF this count is correct (I still think it is) B wave is completed overnight and the C wave starts today, for the stronger and larger rally. If wrong, I will update for sure. Be careful either way.
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tech showing relative strength in the opening salvo
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buyers need to step in soon if this is going to rally.
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lower BB reached, should be support in normal price action -
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it looks complete if it's a AB- with C next. The interesting thing is we have clear 5 waves down, so after a Rally, more severe downside is possible, unless the correction is more complex, which could happen. Right now it looks like the 4hr rsi on futures needs a resetting but I can't guarantee anything of course....
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SPX back above the trendline. Rally for a few days IMO.
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If correct, target maybe around 4570 on spx - could be today or today and overnight before the numbers at 8:30 tomorrow.
