EightyNineWaves

EightyNineWaves

May consolidate or dip somewhat before churning higher, but I believe this will develop impulsively to a new all-time high.

EightyNineWaves

This may consolidate or dip overnight / in the morning into a wave 4 or lower degree wave 2, but I'm currently bullish in my prediction overall for tomorrow.

EightyNineWaves

Tomorrow will be telling, as it should either confirm or invalidate this count. I'm anticipating an overnight reversal back to the upside and a bullish day overall to finish the week. If prices do continue to break down tomorrow below 35900, this count will need some reworking.

EightyNineWaves

Still anticipating a completion to the correction today before 35.9k.

EightyNineWaves

It's beginning to look to me like this week's simple A-B-C down is going to produce a double three. This is why I don't "buy the dip." Corrections can morph into too many different forms, and it's very difficult to tell when they're over (until you're already well into wave 3 of the proceeding move). In this instance, I assumed Minor wave 4 had completed yesterday...

EightyNineWaves

A slight modification to my last post - the bounce off the daily low failed to produce an impulsive structure, and I believe this downtrend will produce a new low overnight. My overall prediction is still bullish going into tomorrow. Here's the bounce off the day's low, on the 5 min. This doesn't look impulsive:

EightyNineWaves

Today's low nailed the 100% C v A target I noted in my last post (see linked idea). Movement off that low is looking impulsive so far. Provided the next pullback on the hourly prints the necessary higher low within the marked wave 2 Fib range (blue/green box), this should develop into an impulsive move to yet another new ATH. I think the indices are entering a...

EightyNineWaves Updated 

Just posting a quick opinion on the Dow today. If yesterday's decline from the ATH completed an A wave, 100% C v A from the overnight high would put an expected low for today around 36200.

EightyNineWaves

An updated count from earlier. Still bullish overall, for now, but I'm viewing the recent correction as a higher degree, which moves the invalidation level to 35799.

EightyNineWaves

Is the Dow about to bounce? This morning's low reached the .5 retracement of yesterday's bull trend. If completing a wave 4, it shouldn't go lower. That point also completed the 100% extension of wave C vs A of the lower degree within the correction. Invalidation level for this count is 35938.