Another very volatile day today. Big swings in both directions. We were down this morning, rallied to take out yesterdays highs, then closed nearly flat for the day.
My pivot at 1167 nearly held today. We slightly broke above it by making our high at 1170, however we closed well below it. We also had a decent down move after making our high. Though it was not very impulsive, it could be the start of a new down move if we break some pivots. The primary count for now is that today was perhaps the end of Minor wave 2. Breaking below 1147 will help the case. So for tomorrow, the key pivots are 1147 to the downside, and 1167 and 1175 to the upside.
I also have an alternate count on that chart. The alternate is that this move up from our lows last week is only a Minute wave [a] of 2. If that is the case, any down moves in the next few days would be a wave [b] instead of the start of Minor 3. So let's watch those pivots for now.
The daily candle stick today is also a doji.
As you can see, the body is very small with long shadows on each end. Indecision is still in the market.
Google also found resistance at its 520 pivot today.
We may bounce around 500 and 520 over the next few days.
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