The market has closed below the 20 day SMA for a 2nd day. The bears have two options in their favor.
The short term options (purple, red and green) are still in play. The bulls may have a case for a decent five wave move off yesterday's low. However, this could simple represent a five wave move for a wave c of the purple triangle or a wave c of the running flat for the red option.
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| 15 Min |
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