8:12 AM Update
Something else to keep in mind.
This may be the most likely scenario. Gotta keep watch.
Well that was quick.
Pre Market
Futures trading lower once again and markets look set to open lower. I forgot to include my wave count depicting five waves down. The alternate on the count shows the mini rally near the close as a wave 4.
Should futures remain in the red and the market decides to drop below 1300, that may be the correct count.
As far as the futures count goes, I don't think there is any other way to count it other than corrective down unless I'm missing something. A wxy corrective looks to be the best label.
Wave y may be in should price break above the channel, however, it appears there might be an ED forming for wave y as well. If the ED is playing out, it appears a fourth wave of the ED is in the works.
As always, we shall see...
7:43 AM Update
This may be the most likely scenario. Gotta keep watch.6:04 AM Update
Well that was quick.Pre Market
Futures trading lower once again and markets look set to open lower. I forgot to include my wave count depicting five waves down. The alternate on the count shows the mini rally near the close as a wave 4.
Should futures remain in the red and the market decides to drop below 1300, that may be the correct count.
As far as the futures count goes, I don't think there is any other way to count it other than corrective down unless I'm missing something. A wxy corrective looks to be the best label.
Wave y may be in should price break above the channel, however, it appears there might be an ED forming for wave y as well. If the ED is playing out, it appears a fourth wave of the ED is in the works.
As always, we shall see...
