The only other bearish options left with that overlap is a either: 1. A nested 1-2 down or 2. The backtest was a wave x and now wave (y down is in progress.
For the bulls, the low on 4/29 at 2052.58 marked the end of a complete three wave correction. The pullback towards the open would be considered a chance to go long so long as the 4/29 low holds.
I'm leaning towards a trade on the opening pullback especially if it pulls back to the 20 SMA and holds. We'll see.
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