I put some little black arrows to show .... there is the pattern that keeps repeating itself....
the Green pattern looks like a repeat of that smaller pattern..... I've done this before, where I think that this is the 5th wave by wave counts... and we get one more big wave down
That Red trend line... Normaly if we break it.. "segnificantly" the trend is over.... Wierd thing is we have that blue trade channel.......
That smaller pattern would come up to the blue.... Fail and we have our "Big Down Wave".
normaly... we don't get quite as large a sell off as we had yesterday.. usually that sell off is much weaker....
With all these patterns... most of the time what we are getting is a down move... then a muddled sideways move... then another down move... Which shows an ABC correction.
But... most the down moves in the past few days do have a 5th wave..
So......
I'm still unsure... no idea... If we have big down futures, we could get a snap back rally large enough to cause the reversal....
2 comments:
Morning
me too, no idea for today trade. Futures are bouncing off from their lows.
Morning Melissa,
well.. I'm going to look for that move to the 135.80 level on the spy,then maybe the heavy breakdown.... or we break hard to the upside...
just be ready for both I guess
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