The primary count for the bears is that a larger wave (y) yellow or (c) blue is underway (see daily chart). This would be a choppy wave structure down tho because these waves overlap a fair bit.
The bulls closed above the 50 day SMA and continue to find support at 2020.
The bears continue to print lower lows and lower highs.
Where are we headed? Thats anyone's guess. I'm just gonna keep trading the third (3 or c) waves until we get a decisive breakout.
|Daily Bollinger Bands|