Lots of options near term. I have presented many scenarios, which for the most part, makes it difficult to determine where they may be going near term.
The 5 min chart shows a more bearish view, that being a wave [iii of iii down coming up.
[1:45 PM] - Here is the full view of my daily chart showing all 13 waves for this extended structure.
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| 1:45 PM - Daily |
[EOD Update] -However, I still like my daily count. As I
posted last Fri, I suspected that wave iii of the ED was complete. So far, this looks like a good wave iv down with a potential falling wedge look to it.
If this is a wave iv, I'd like to see it find support near 1960 (green TL) or 1950 (purple TL) if the market wants to take it down some more.
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| 5 Min |
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| 60 Min |
The hourly showing the close up for wave iv targeting 1960.
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| Daily |
