Of course the most bullish option is that wave 5 is in the middle of extending through it's Cycle 3 wave.
Just something to consider.
Just wanted to add the daily BB chart. Note the rejection this time at the 20 day SMA vs the previous three moves.
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| Daily BB |
The market took everyone for a ride today. Looks like the right shoulder for the inverted H/S may have been set today.
I'm still looking for a another leg higher whether it is for wave C black or wave (III) blue. In the meantime, wave B black or (II) blue may still be in progress.
We'll see if the bulls stage a comeback tomorrow.
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| 15 Min |
