Waves (3) or (c) = (1) or (a) at 2891, which is just shy of the 62% retracement level and the 50 day moving average is sloping down at this level as well. We'll see if this is a target over the next few sessions.
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Stock Market Analysis With The Elliott Wave Principle -Dow Jones, S&P 500, Russell 2000, Nasdaq and FX. All charts and commentary on this site are strictly the opinions of the author(s) and are for recreational purposes only. In no way should this be construed as trading advice or a recommendation for investing. See disclaimer at the bottom of the page.
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Wednesday, April 8, 2020
4/8/2020 - EOD Update
After yesterday's reversal, the bulls came back to play for a little bit or squeezed the bears a tad to push wave (3) or (c) towards the 50% retracement level of the COVID-19 decline.
Waves (3) or (c) = (1) or (a) at 2891, which is just shy of the 62% retracement level and the 50 day moving average is sloping down at this level as well. We'll see if this is a target over the next few sessions.
Waves (3) or (c) = (1) or (a) at 2891, which is just shy of the 62% retracement level and the 50 day moving average is sloping down at this level as well. We'll see if this is a target over the next few sessions.