Just noticed a possible subdivision for wave {iii} and it would look like this.
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| 1 Min - 7:36 AM |
Looking for a potential falling wedge here on the 1 min
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| 1 Min - 7:34 AM |
Watching this potential H/S shoulders developing on the weekly. Not sure if this will head to 1536 first or form the right shoulder around here with the wave ii bounce as highlighted on the 1 and 15 Min below.
The right shoulder may be capped by the previous all time high of 1576. That would also make for a 38% retracement for wave ii. A back test of the blue midchannel puts the market near 1614.
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| Weekly - 7:28 AM |
Buy here for the wave ii bounce if the low holds.
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| 1 Min - 7:22 AM |
Looks like that bounce will not be coming and the green option has been eliminated. Red and blue remain and may be looking for something more bearish after a tiny wave ii bounce.
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| 15 Min - 7:13 AM |
