A very volatile day today. We opened up higher and then reversed down at the end of the day.
The primary count is that wave (a) of [ii] has completed, and we are in wave (b). I have a feeling wave (b) might have also completed, since we have already retraced about 50% of (a).
The next couple of days are very important. If we break down with strong bearish internals, it could imply more downside to come. However, the primary count does suggest that we bounce in a wave (c) to perhaps 1114.
The current bottom looks almost identical to the one in early February. So perhaps a bounce is coming.
However, the bounce will be limited this time. I doubt it will have the same strength.
Key pivots for tomorrow 1080 and 1090 to the upside, and 1060 and 1050 on the downside.
0 comments:
Post a Comment