Firm channel bounce. Shown very good support here previously. However, my wave count shows that the 5th wave has likely terminated.
If we do extend further up tomorrow, the 5th wave will terminate at 2923 or extend far beyond into ATH. Otherwise, we should see a clean break tomorrow into a proper correctional wave A. Invalidation levels is around 2789, a more proper PT would be around 2825. I would recommend shorting sectors or stocks instead of ETFs.
Earnings season sure looks gloomy this year.
If we do extend further up tomorrow, the 5th wave will terminate at 2923 or extend far beyond into ATH. Otherwise, we should see a clean break tomorrow into a proper correctional wave A. Invalidation levels is around 2789, a more proper PT would be around 2825. I would recommend shorting sectors or stocks instead of ETFs.
Earnings season sure looks gloomy this year.
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Maybe we'll get to see that gap at 2816 filled... But that's a bit drastic. 2825 is still the region to be watching.