Looks like the market has now backtested the 50 day SMA as anticipated. Now the question is what does it do right here?
Below are the near term count options.
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| 15 Min |
Green is looking to complete wave 3. Red is looking to complete wave c and blue is looking to set up a very bullish nested 1-2 {i}-{ii} up.
The blue count option is the one to follow should the market fulfill the inverted h/s target and blow through the 50 day SMA.
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| 50 - 200 DAY SMA |
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| BEAR |
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| BULL |
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| DJI - 60 Min |
I have the DJI on the same count as the SPX green option.
