[EOD Update] - The market bounced as expected and the third wave up hit within 2 points of the target before reversing course throughout the day on the shooting star (hourly) and up against the trend line resistance.
I mentioned last night that we would have to reassess once the bounce came since MACD (daily) was crossing down.
As the wave continued to impulse down, I pointed towards the alternate count I posted last night in green. So far wave c of y = a. We'll see if this is enough for wave ii (per 60 min chart).
 |
| 5 Min |
 |
| 60 Min |
Though I feel a bounce may be coming, the bulls have to be cautious here. Daily MACD crossed down with triple -ve divergence. All five waves up can be accounted for.
 |
| Daily |
 |
| TNX |
