We did get some selling today, but it wasn't convincing enough. Also, the Dow was the only index to make a new high today. The SPX and Nasdaq came close, but did not make new highs. The last 30 minutes also got very volatile. We sold off to new intra-day lows, but then bounced right back. It probably had to do something with expiration. People closing out positions in the last minute. I also think that some indices last settling price is 30 minutes before the close. So perhaps that has something to do with it.
Despite all of that, it is still hard to count impulse waves down from the highs. Impulse waves should be more clear to count. It seems that we may still have more room to the upside. Here is another variation of the recent count.
Target is still between 1175-1180. We probably also came down just so that on our way back up, the RSI and MACD will diverge.
Breaking 1150 may take us lower, to perhaps 1135.
A few days ago, I had said that the US Dollar basically needed to start coming back up, or the impulse count could have been wrong. For 2 days now, the Dollar has had a nice rally.
We should continue going higher, and most likely we will make new highs in the Dollar soon.
On Apple, Minor wave 4 seems to be just about completing.
I am also expecting new highs in Apple in the days to come.
I will try and do a video this weekend, so please check back for that.
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