OK, this is a possibility to be aware of. We still could come down to 3700 or lower tomorrow, but if they rally from anywhere around here (or there), there is a chance we get a sudden C wave up for a few weeks. Sentiment surveys on CNBC have never been more bearish, so there's that - but regardless, the pattern looks correct as of now.
So there it is - it may not work out, but I'm putting it up as a distinct possibility. I'm not long, but did hedge this morning. I'll shed shorts if we start getting over 3800 again.
If true, C should get to around 4100 resistance area.
So there it is - it may not work out, but I'm putting it up as a distinct possibility. I'm not long, but did hedge this morning. I'll shed shorts if we start getting over 3800 again.
If true, C should get to around 4100 resistance area.
Note
.382 fib of recent downmove reached. Could be a turn to more downside, I'm not sure. Be careful. Note
qqq rejection from important fib zone (so far) again, be careful Note
they are struggling with this trendline, above is bullish but rejection is bearish. 830 more economic data Note
so far so good, we're at the median line for the daily Bollinger band, which is a resistance area. watching the open. 
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.